A federal appeals panel has denied a petition for rehearing filed by plaintiffs who had argued that the 2nd Circuit's initial decision adopted incorrect standards that a district court must apply in determining whether to grant class certification. Following the 2nd Circuit's Friday decision, the plaintiffs can seek certiorari from the U.S. Supreme Court or go back to Southern District of New York Judge Shira Scheindlin and request that she certify a narrower class.
April 09, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal appeals panel has denied a petition for rehearing filed by the plaintiffs in In re: Initial Public Offering Securities Litigation, 05-3349-cv.
The plaintiffs had argued that the initial decision by the 2nd U.S. Circuit Court of Appeals adopted incorrect standards that a district court must apply in determining whether to grant class certification.
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