Stock Plan Investors Suing SPCP for $227 Million Deal Seek Class

A lawsuit accusing investment management firm SPCP Group LLC of knowingly participating in an illegal transaction involving a health-care holding company’s employee stock plan should be certified as a class action covering thousands, plan participants told a California federal court.

Plaintiff Danielle Gamino on Wednesday sought a court order certifying a class of as many as 3,000 participants in the KPC Healthcare Holdings employee stock ownership plan. This is the same class that was certified in Gamino’s case against KPC and its former owner, she said in a motion filed in the U.S. District Court for the Central District of ...