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Tuesday, December 24, 2013

Ind. Courts - More on: Class Action Suit Filed Against Angie's List, Inc.

Updating an ILB post from early this morning, Tony Cook of the IndyStar is now reporting in a story that begins:

Top executives at Angie’s List made millions of dollars by misleading shareholders and selling off stock at artificially inflated prices, according to a lawsuit filed Monday in U.S. District Court in Indianapolis.

The lawsuit, filed by the same New York firm that recovered $7.3 billion for victims of energy giant Enron, seeks class-action status for potentially hundreds of Angie’s List stockholders.

The 28-page complaint alleges that five top Angie’s List officials, including co-founders William Oesterle and Angela Hicks Bowman, misled investors about the company’s condition from February to October.

Posted by Marcia Oddi on December 24, 2013 04:40 PM
Posted to Indiana Courts