January 19, 2024
Claims that a group of securities underwriters were negligent in a senior health care company’s initial public offering have been kept alive by a Colorado federal judge.
Separate claims that J.P. Morgan Securities lied and misled investors also survived a motion to dismiss Thursday, but U.S. District Judge William J. Martinez tossed similar claims against the other underwriters, which include Barclays, Goldman Sachs, Citigroup and Capital One, without prejudice.
The proposed class action is being brought by public service pension funds in San Antonio and El Paso, Texas, and in Indiana on behalf of anyone who bought shares of InnovAge, an elder care delivery company, between the company’s IPO on March 4, 2021, and December 22, 2001.
. . .
The plaintiffs are represented by Julie G. Reiser, S. Douglas Bunch, Jan E. Messerschmidt, Carol V. Gilden and Manuel J. Dominguez of Cohen Milstein Sellers & Toll, as well as Jason B. Robinson and Cecil E. Morris of Fairfield & Woods PC.
Read JP Morgan, Others Must Face Sr. Care Investors’ Claims.