American Italian Pasta Co. in Several Class Action Lawsuit
U.S. District Judge Ortrie Smith has amalgamated different class action lawsuits which was filed on Aug. 9 against American Italian Pasta Co. and appointed three locals of the Iron Workers union as lead plaintiff in the case.
The District Judge today said, “consolidation will streamline matters and prevent needless confusion, expense and delay.”
The cases were filed after the Kansas City-based company, announced a $60.7 million charge and disclosed that it would delay filing its quarterly financial report and that the Securities and Exchange Commission had launched an investigation..
At least half a dozen securities and derivative actions — lawsuits brought by shareholders on behalf of the corporation over allegedly improper management — have been filed against American Italian since then.
Plaintiffs include several firefighter and police pension funds, including the Firefighters’ Pension System of the City of Kansas City, the union security funds of Iron Workers Local No. 40, 361 and 417 and the Teachers’ Retirement System of Louisiana.
Filed under Class Action, General Law
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