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Federal judge rules IPG must fight class action suit in court.(Interpublic Group)(Brief Article)
Interpublic's woes increased further this week as it emerged that the debt-laden company will be forced to defend a class action accusing it of defrauding investors.
The New York holding company, parent of the McCann-Erickson and Lowe networks, is accused in a lawsuit filed by angry shareholders in IPG and True North Communications, which IPG purchased in 2001.
The lawsuit alleges that IPG issued misleading financial statements largely tied to questionable accounting practices at McCann. It arose in August 2002 when IPG announced it wanted to restate inter-company charges that had been incorrectly referred to as income in the European offices of McCann. ...
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