United States Second Circuit
Levitt v. J.P. Morgan Securities, Inc., 10-4596
Decision of the district court certifying a class of investors, former customers of the New York broker-dealer Sterling Foster, is reversed where plaintiff's allegations fail to trigger a duty of disclosure to Sterling Foster’s clients such that the Affiliated Ute presumption of reliance applies, and therefore fail to satisfy Rule 23(b)(3)'s predominance requirement.
Appellate Information
- Decided 03/15/2013
- Published 03/15/2013
Judges
- L IVINGSTON
Court
- United States Second Circuit