Focus (Forum & Focus)
Jun. 14, 2007
Class Dismissed
Focus Column - By William F. Sullivan and Eleanor K. Mercado - Class certification in securities-fraud cases is becoming much more difficult to obtain.
FOCUS COLUMN
By William F. Sullivan and Eleanor K. Mercado
Defense attorneys have a powerful new tool to oppose class certification in securities fraud actions. In Oscar Private Equity Investments v. Allegiance Telecom, 05-10791 (5th Cir. May 16, 2007), the 5th U.S. Circuit Court of Appeals increased the burden on plaintiffs claiming federal securities fraud, continuing the trend that began with Dura Pharms. Inc. v....
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