February 27, 2004

Shortest Class Period?

In the last few days, securities class actions have been filed against Walt Disney Company (NYSE: DIS) alleging that the company failed to disclose that Comcast Corp. had approached it with a merger offer. The putative class consists of Disney shareholders who sold their shares from Feb. 9 to Feb. 10 - a mere two-day class period.

This has caused The 10b-5 Daily to wonder: what is the shortest class period that has ever been proposed in a securities class action? Readers are encouraged to submit candidates to the10b5daily-at-hotmail-dot-com (please indicate whether you would like to be credited for your efforts).

Posted by Lyle Roberts at February 27, 2004 7:17 AM | TrackBack
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