Plaintiffs in a securities fraud class action containing over 2,000 individual investors were unable to convince a New York District Court that the reliance element of their claims was susceptible to a common method of proof for all putative class members thereby precluding certification under Rule 23(b)(3). Plaintiffs alleged that defendants misrepresented the involvement a certain individual, known for his investment expertise, would have in the management of their ... Keep Reading »
Securities Class Action Articles
The latest class action developments and trends in the securities industry, including news, key cases, and strategies.
The United States District Court for the Northern District of Texas recently denied certification of a putative securities law class after finding that plaintiff failed to put forth actual facts showing adequacy and predominance, as required to satisfy the “stringent standards” of Rule 23 pursuant to the Supreme Court’s decisions in Wal-Mart Stores, Inc. v. Dukes and Comcast Corp. v. Behrend, as well as the Fifth Circuit’s decision in the securities law context in Berger ... Keep Reading »