There have been some new developments in a pair of old disputes.
(1) Newsday reports that after a long-running legal battle, a California state court has granted a motion brought by Texas billionaire Sam Wyly and “order[ed] three class action law firms to turn over years’ worth of evidence they collected as part of their lawsuits alleging accounting fraud by former [Computer Associates] executives.” Wyly, who was a class member in the suits, alleges that the litigation was improperly settled for a low amount just prior to Computer Associates’ public disclosures of accounting fraud.
(2) The court presiding over the Halliburton securities class action has granted a motion by the Archdiocese of Milwaukee Supporting Fund, which is acting as lead plaintiff in the case, to remove Lerach Coughlin and Scott + Scott as lead counsel. Legal Pad has a post.
The 10b-5 Daily 