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Class Action › Class Certification › Petrobras

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - March 2018/ Volume 10 / Issue 1

Skadden, Arps, Slate, Meagher & Flom LLP on

This quarter's issue includes summaries and associated court opinions of selected cases principally decided between November 2017 and January 2018. The cases address developing trends in appraisal, class certification, core...more

Mintz - Securities Litigation Viewpoints

Petrobras Court’s Denial of Plaintiffs’ Request for Confidential Treatment of Opt-Out Provisions Could Undermine the Settlement...

Mintz - Securities Litigation Viewpoints on

On Tuesday, February 6, 2018, United States District Judge Jed S. Rakoff denied class counsel’s request to file under seal three supplemental agreements to a $2.95 billion settlement in the Petrobras Securities Litigation,...more

Carlton Fields

Second Circuit Clarifies Ascertainability Rule, Rejecting “Heightened” Standard of Administrative Feasibility

Carlton Fields on

The Second Circuit recently rejected the “heightened” ascertainability requirement under Rule 23(b)(3), turning aside a challenge to a district court’s certification of a securities fraud class action. Instead, the court...more

Burr & Forman

2nd Circuit Weighs in on Certifying Classes Involving Foreign Securities

Burr & Forman on

In In re Petrobras Securities Litigation, the Second Circuit Court of Appeals recently issued an opinion regarding the standards for certifying a class involving foreign securities. Petrobras is a multinational Brazilian gas...more

Akin Gump Strauss Hauer & Feld LLP

The 2nd Circuit Clarifies that Administrative Feasibility Is Not a Requirement for Class Certification

Akin Gump Strauss Hauer & Feld LLP on

On July 7, in In re Petrobras Securities, the 2nd Circuit declined to adopt an independent “administrative feasibility” requirement for class certification under Rule 23. In so holding, the 2nd Circuit joined the 6th, 7th,...more

A&O Shearman

Second Circuit Partially Vacates Class Certification, Holding That Whether Securities Transactions Are "Domestic" Raises...

A&O Shearman on

On July 7, 2017, in a decision making several significant rulings and clarifications, the United States Court of Appeals for the Second Circuit vacated in part an order certifying classes asserting claims under the Securities...more

Skadden, Arps, Slate, Meagher & Flom LLP

Second Circuit Clarifies Class Certification Requirements in Significant Securities Class Action Decision

Skadden, Arps, Slate, Meagher & Flom LLP on

On July 7, 2017, the U.S. Court of Appeals for the Second Circuit offered significant guidance regarding the circuit’s class certification requirements in In re Petrobras Securities, No. 16-1914. In addressing an issue of...more

Mintz - Securities Litigation Viewpoints

Recent Developments in Petrobras Class Action Could Interfere with Trial Date

Mintz - Securities Litigation Viewpoints on

There have been several recent and interesting updates to the In re Petrobras Securities Litigation, 14-cv-9662 (S.D.N.Y.) that we have discussed several times on this blog. First, the Second Circuit has decided to accept...more

Proskauer - Corporate Defense and Disputes

U.S. Court Certifies Classes in Petrobras Securities Litigation

Proskauer - Corporate Defense and Disputes on

The United States District Court for the Southern District of New York yesterday certified two classes of investors who had purchased Petrobras securities on U.S. exchanges or in other U.S. transactions. The February 2, 2016...more

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