In November 2017, the Second Circuit affirmed the district court's certification of a class of Barclays» investors and, citing its own recent decision in Petrobras, held that direct evidence from plaintiffs of price impact is not necessary, at the class certification stage, to demonstrate market efficiency. (pomerantzlawfirm.com)
The Second Circuit also held that defendants seeking to rebut the presumption of reliance must do so by a preponderance of the evidence, confirming that plaintiffs have no burden to show price impact at the class certification stage — a significant win for plaintiffs. (pomerantzlawfirm.com)
In addition, our attorneys have defended more than 100 class actions, winning over 85 percent of these cases by motion, at the class certification stage, and — in one of the largest certified insurance class actions in California — at trial. (sheppardmullin.com)