SocGen Slapped With Class-Action Subprime Suit

By Editorial Staff

March 17, 2008

New York law firm Cohen Milstein Hausfeld & Toll has filed a class-action lawsuit against Societe Generale, chief executive Daniel Bouton and director Robert Day for allegedly misleading investors regarding activities and exposure in the subprime mortgage markets, and the bank's lack of sufficient controls and failure to act on information it had regarding the irregular trades conducted by trader Jerome Kerviel.

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