4th Circuit Ruling Says Jos. A Bank Investor Who Raised Red Flag Can Be Named

The Daily Record (Baltimore) (August 17, 2009)

Author: Brendan Kearney
Permanent Link: http://vlex.com/vid/circuit-ruling-jos-raised-red-flag-63838127
Id. vLex: VLEX-63838127

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Summary:

Jos. A. Bank Clothiers Inc. will soon know the identity of the investor who privately questioned the Baltimore company's public statements about its inventory months before overstocking problems were admitted and sent the menswear chain's stock price tumbling.

The investor, who held hundreds of thousands of shares but several times that quantity of "puts" on the company's stock, has fought unsuccessfully for anonymity in federal courts in Massachusetts and Maryland, where a putative securities class action against Jos. A. Bank is pending.

Extract:

4th Circuit Ruling Says Jos. A Bank Investor Who Raised Red Flag Can Be Named

Last week, the 4th U.S. Circuit Court of Appeals in Richmond affirmed the Baltimore court's decision to let the parties, not just their litigators, know the identity of the "Doe Client."

"W...



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