MEMORANDUM OF LAW in Support re: 5 MOTION to Appoint Wayne County Employees' Retirement System and Carpenters Pension Trust Fund-Detroit and Vicinity to serve as lead plaintiff
Holding that Shutts did not require opt-out rights in a Rule 23(b)(B) class action because the plaintiffs had already submitted to the district court's jurisdiction by filing bankruptcy claims against the defendant
No. 90-1092. January 25, 1993, October TERM, 1992. Dismissal Under Rule 46 C.A. 3d Cir. Certiorari dismissed under this Court's Rule 46. Reported below: 916 F. 2d 85.
Holding that the "experience of a candidate" is "relevant to reaching a determination as to whether a candidate will be capable of adequately protecting the interests of the class"
Rejecting the argument that because the proposed lead plaintiff was not the beneficial owner of the shares that it could not serve as an adequate lead plaintiff
Fed. R. Civ. P. 23 Cited 34,849 times 1232 Legal Analyses
Holding that, to certify a class, the court must find that "questions of law or fact common to class members predominate over any questions affecting only individual members"