Given Perell J.'s determination that the proposed class action against the settling defendants satisfied all of the certification criteria (albeit on a less strict evaluation than would be applied in
a contested certification motion), it is more likely than not that the plaintiffs would be successful if they moved to certify against the Underwriter Defendants.
At the
certification motion before Justice Perell, the defendants consented to
certification of the action subject to one
contested issue regarding the scope of the plaintiff's proposed class definition.