Insurers to Hold Panel on IPO Lawsuits
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A group whose members specialize in insuring Wall Street firms against lawsuits will hold a panel discussion in New York on Friday on the implications of the avalanche of lawsuits alleging fraud in the way investment bankers managed hot new stock offerings in the late 1990s
Plaintiffs lawyers have filed hundreds of suits against newly public companies and Wall Street firms, alleging they artificially pumped up share prices on the first day of trading. The complaints could result in damages for the Wall Street firms, securities lawyers said.
“The coverage of professional liability in these cases will be at the center of the discussion,” said a spokeswoman for the Professional Liability Underwriting Society.
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