Reply Memorandum IN FURTHER SUPPORT OF THE ISRAELI INSTITUTIONAL INVESTOR GROUP'S MOTION FOR APPOINTMENT AS LEAD PLAINTIFF AND APPROVAL OF LEAD PLAINTIFF'S SELECTION OF LEAD COUNSEL
Holding that the PSLRA is clear that "the power to `select and retain' lead counsel belongs . . . to the lead plaintiff, and the court's role is confined to deciding whether to `approve' that choice" and that should the court disagree with the lead plaintiffs choice "it should clearly state why . . . and should direct the lead plaintiff to undertake an acceptable selection process"
Limiting a class "to foreign shareholders whose courts, in the unlikely event of successive litigations, are likely to give res judicata effect to any judgment herein"
Finding predominance because "[t]he proof for the claims of misrepresentation or omission, materiality, and . . . scienter are all based on a common nucleus of facts and a common course of conduct"
206 F. Supp. 2d 627 (D.N.J. 2002) Cited 42 times 1 Legal Analyses
Holding that the group could not work effectively to adequately represent the interests of the class because the group "concede[d] that the only pre-existing relationship among the various proposed individuals [was] the fact that they all invested through the same broker"
Finding that the plaintiff's allegations that the defendants had threatened his life and assertions of a conspiracy headed by a competitor or foreign power were "the product of a wild imagination" and subjected his credibility to "extraordinary attack."
Rejecting the defendant's arguments and extending comity to an Israeli default judgment in part because the “Defendant's arguments ... could have and should have been made in Israel. He cannot fail to contest the Israeli plaintiff and then declare that he would have won.”
Approving three firms as co-lead counsel in part because of the geographic scope of the litigation and the attendant need for greater attorney resources
Fed. R. Civ. P. 6 Cited 50,778 times 24 Legal Analyses
Holding that "if the last day [of a period] is a Saturday, Sunday, or legal holiday, the period continues to run until the end of the next day that is not a Saturday, Sunday, or legal holiday."
Fed. R. Civ. P. 23 Cited 35,820 times 1247 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"