Deaths, Conviction Botch Search for Securities Class Representatives
Lawyers who sued FleetBoston Financial for securities fraud in 2002 have been given six months to find new class representatives, after the first two died. The suit, over losses tied to a financial crisis in Argentina, has seen the deaths of the first class representative and his son, who succeeded him in the role. On Oct. 3, a federal judge refused to appoint another family member, a convicted felon, to fill the slot. The class faces decertification unless the lawyers can prove a representative exists.
