Illinois State Board of Investment, Chicago, filed a motion to be named lead plaintiff in a class-action suit against AuthentiDate Holding Corp., said William Atwood, executive director of the $10.8 billion fund. ISBI owned 260,000 shares in the company through Segall Bryant & Hamill Investment Counsel and lost $3 million of the $29 million claimed to be lost by the class, he said. AuthentiDate is accused of making misleading financial disclosures, Mr. Atwood said.
Entwistle & Cappucci, ISBI's law firm, filed the motion on the board's behalf in U.S. District Court for the Southern District of New York. Judge Laura Taylor Swain hasn't ruled on it, he said.
Gregory Miller, AuthentiDate spokesman, said company officials wouldn't comment on pending litigation.