SocGen turns to Skadden for class action battle

Societe Generale has called in US giant Skadden Arps Slate Meagher & Flom to battle a class action law suit brought by shareholders following recent heavy losses sustained by the French lender. The class action has been filed against SocGen, France’s second-largest bank, by a shareholder in the US as a result of losses sustained following its exposure to sub-prime loans and alleged fraudulent dealing by employee Jerome Kerviel.

SocGen turns to Skadden for class action battle legalweek.com Thu, Mar 27, 2008