Test case scenario created for US IPO conflicts

A tentative outline for trying test cases in the litigation over the manipulation of initial public offerings (IPOs) during the internet boom has been agreed. Judge Shira Scheindlin of the Southern District of New York told lawyers for 55 securities firms and investors to have 10-20 “focus cases” selected by 5 January 2004. Investors filed suits claiming injury from Wall Street conflicts of interest and the so-called laddering of IPOs.