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Is Redback headed for more battles in the courtroom than on the track?

April 26, 2017battles courtroom headed redback track

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Is Redback headed for more battles in the courtroom than on the track?

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One has to wonder if Redback, the sponsor on the Arciero/Blair team is going to have a bit more action in the courtroom than on the race track in the coming months. The Law Firm of Cauley Geller Bowman & Coates, LLP announced yesterday that a class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Redback Networks Inc. The complaint charges defendants Redback, Morgan Stanley & Co. Inc. (“Morgan Stanley”), BancBoston Robertson Stephens (“Robertson Stephens”), Lehman Brothers Inc. (“Lehman Brothers”), Dennis L. Barsema and Geoffrey C. Darby with violations of Sections 11, 12(a) (2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.