09/02/2008
Court Applies Stoneridge to Release Law Firm From Securities Litigation
In re DVI Inc. Securities Litigation, --- F.R.D. ----, 2008 WL 1900384 (E.D.Pa. 2008)

Brief Summary

Because law firm’s allegedly fraudulent activity as defendant corporation’s counsel was never made public, and because the firm owed no direct duty of disclosure to the shareholders, the plaintiffs’ motion for class certification failed due to the inability to show that the plaintiff class as a whole relied on the firm’s alleged misrepresentations or omissions.
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