United States First Circuit

Order certifying a class and an insider trading subclass in a securities fraud class action involving an internet holding company is affirmed where the district court did not err in its determination of market efficiency for purposes of establishing the fraud-on-the-market presumption of reliance.

Appellate Information

• Decided 12/13/2005
• Published 12/13/2005

Judges

• LIPEZ, Circuit Judge., Before TORRUELLA, CYR, and LIPEZ, Circuit Judges.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Louis R. Cohen, with whom Todd C. Zubler, Jonathan Cedarbaum, Peter J. MacDonald, Robin L. Alperstein, and Wilmer Cutler Pickering Hale and Dorr LLP were on brief, for appellants.


• For Appellees:
  
• Peter A. Pease, with whom Patrick T. Egan, Colleen M. Conners, Berman Devalerio Pease Tabacco Burt & Pucillo, Elaine Kusel, Jeffrey Spinazzola, and Milberg Weiss Bershad & Schulman LLP were on brief, for appellees.