CITY OF STERLING HEIGHTS POLICE v. ABBEY NAT.

No. 05 Civ. 2141(DC).

423 F.Supp.2d 348 (2006)

The CITY OF STERLING HEIGHTS POLICE AND FIRE RETIREMENT SYSTEM, Individually and on behalf of all others similarly situated, Plaintiff, v. ABBEY NATIONAL, PLC, and Ian Harley, Defendants.

United States District Court, S.D. New York.

March 31, 2006.


Attorney(s) appearing for the Case

Glancy Binkow & Goldberg LLP, By: Peter A. Binkow, Neal A. Dublinsky, Daniel Hargis, Los Angeles, CA, and By: Robin Bronzaft Howald, New York, NY, Miller Shea PC, By: Powell Miller, Jayson Blake, Rochester, MI, Labaton Sucharow & Rudoff LLP, By: Christopher J. Keller, Shelley Thompson, New York, NY, Vanoverbeke Michaud & Timmony, P.C., By: Michael Vanoverbeke, Michael Moco, Detroit, MI, Smith & Smith LLP, By: Howard G. Smith, Bensalem, PA, for Plaintiffs.

Cleary Gottlieb Steen & Hamilton LLP, By: Jennifer L. Kroman, Neil P. Forrest, Catherine Sykes, New York, NY, for Defendants.


OPINION

CHIN, District Judge.

This is a securities fraud class action against a London-based bank and its former Chief Executive Officer. Plaintiff The City of Sterling Heights Police and Fire Retirement System (the "Retirement System"), on behalf of itself and other similarly situated shareholders, alleges that defendants Abbey National, PLC ("Abbey"), and Ian Harley violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule...

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