Mealey's Litigation Procedure - Judge Appoints Investor Group As Lead Plaintiff In Stock-Drop Lawsuit

SAN DIEGO - A federal judge in California on Nov. 7 appointed an investor group to serve as lead plaintiff in a securities class action lawsuit against a consumer and business banking provider and certain of its executive officers because the investor group meets all statutory requirements to serve as lead plaintiff, but the judge rejected the investor group's choice of co-lead counsel because the investor group failed to show that co-lead counsel is necessary (Bar Mandalevy v. BofI Holding Inc., et al., No. 17-0667, S.D. Calif., 2017 U.S. Dist. LEXIS 184504).