STB Obtains Dismissal of Class Allegations in Eight IPO Securities Class Actions
05.16.08
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STB represents J.P. Morgan Securities, Inc. in the Initial Public Offering Securities Litigation, the largest coordinated securities class action in history. The firm took the lead on behalf of all defendants in moving to strike the class action allegations in certain of the 309 pending cases for a variety of defects in the purported class representation. On May 13, U.S. District Judge Shira A. Scheindlin issued an opinion and order striking the class allegations in eight cases, and ordered plaintiffs within 21 days to provide specified information concerning the representation of the putative classes in 18 additional cases, at which time defendants may renew the motion to strike if plaintiffs' class disclosures are inadequate.
The STB team included David Ichel, Joe McLaughlin, Michelle Cherande, Jeff Coviello, Susannah Geltman and paralegal Rick Rosario.