Parties Debate Whether Emergency Stay Is Required In Securities Class Action

(July 15, 2016, 12:26 PM EDT) -- NEW YORK — An emergency stay of proceedings in a securities class action lawsuit is not proper because the defendants’ reason for seeking the stay have already been rejected by a federal district court judge, shareholders argue in an opposition brief filed July 8 in the Second Circuit U.S. Court of Appeals (In re Petrobas Securities Litigation, No. 16-1914, 2nd Cir.).

(Opposition brief available. Document #57-160718-507B.)

Lead plaintiff Universities Superannuation Scheme Ltd. (USS) and Petroleo Brasileiro S.A — Petrobas shareholders Employees’ Retirement System of the State...
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