Now don't go reading anything into this... Eastern District Judge Nicholas G. Garaufi simply observed that Lerach Coughlin's client, the Plumbers and Pipefitters National Pension Fund did not have the largest financial interest in the pending securities class action against telecom co., Comverse (who provided us a few months of blog-fodder when its CEO, Kobi Alexander turned fugitive).

Instead, Judge Garaufi granted lead counsel status to Pomerantz Haudek Block Grossman & Gross, which is representing Menorah Group, which was determined by the court to have suffered the greatest losses.

-- MDT

Labels: Bill Lerach, class action, Comverse, Kobi Alexander, securities