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Tag Archives: Class actions

Justices revisit securities fraud class actions

The justices of the U.S. Supreme Court have an opportunity to dramatically change the landscape of securities fraud class action litigation by limiting, or perhaps overruling altogether, a decision upon which plaintiffs have relied for decades.

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Fee fight exposes seamy side of class actions

It always comes down to the cash. That point was illustrated in a decision handed down last week by a New Jersey federal judge who had to decide whether two warring law firms should share $2.45 million in fees allocated as part of a class action settlement.

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09-1205 Smith v. Bayer Corp.

Civil Procedure Class actions; privity A denial of class certifications is not binding on unnamed putative class members. The District Court’s injunction was independently improper because Smith was not a party to the federal suit and was not covered by any exception to the rule against nonparty preclusion. Generally, a party “is ‘[o]ne by or against whom a lawsuit is ...

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09-1403 Erica P. John Fund, Inc. v. Halliburton Co.

Securities Securities fraud; class actions; loss causation Securities fraud plaintiffs need not prove loss causation in order to obtain class certification. It is undisputed that securities fraud plaintiffs must prove certain  things in order to invoke Basic ’s rebuttable presumption of reliance. According  to the Court of Appeals, EPJ Fund had to prove the separate element of loss  causation in ...

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10-3672 Sawyer v. Atlas Heating and Sheet Metal Works, Inc.

Civil Procedure Statute of limitations; tolling; class actions Where a plaintiff in a proposed class action in state court voluntarily dismisses the case, the statute of limitations is tolled during the period the suit was pending. “Sawyer did not have any way to prevent Park Bank from dismissing the original suit—nor did the state court permit Sawyer to intervene and ...

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10-8050 CE Design Limited v. King Architectural Metals, Inc.

Civil Procedure Class actions Where doubts about a named plaintiff in a class action threaten the interests of the rest of the class, it was error to certify the class. “The record raises serious doubts concerning the truthfulness of Pezl’s testimony about his familiarity with the terms of the contract with the Blue Book. The district court erred in treating ...

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Future of class actions in play

When the U.S. Supreme Court rules in the case Wal-Mart Stores v. Dukes, it will not only decide whether more than 1.5 million female Wal-Mart workers can proceed as a class in a lawsuit alleging that the company systemically paid them less than male employees.

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