Author Archives: David M. Brown

Third Circuit Approves Nationwide Certification in De Beers Diamond Antitrust Settlement Class

In Sullivan v. DB Investments, Inc. (“Sullivan II”), No. 08-2784, 2011 U.S. App. LEXIS 25185 (3d Cir. Dec. 20, 2011) (en banc), the Third Circuit reinstated the district court’s certification of a nationwide class settlement comprising indirect and direct purchasers … Continue reading

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Plaintiffs Need Only “Plausibly Allege” Materiality at the Class Certification Stage

In the Ninth Circuit, a plaintiff invoking the fraud-on-the-market presumption at the class certification stage does not need to prove materiality; he must only plausibly allege that the misstatements were material.In so holding, the Ninth Circuit joins the Third and Seventh … Continue reading

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