United States Second Circuit

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In re: Dynegy, Inc., 13-2581

In this bankruptcy proceeding, dismissal is affirmed, where: 1) plaintiff Lucas’ status as lead plaintiff of the putative class in the separate district court securities litigation does not automatically extend to these bankruptcy proceedings; 2) in order to have opted out or objected to defendant’s join reorganization plan on behalf of the class, Lucas should have sought application of Rule 23 in bankruptcy court, and because he did not, Lucas represented no one but himself; and 3) since Lucas opted out of the release in his individual capacity, he lacks standing to appeal the order confirming defendant’s join reorganization plan.

Appellate Information

  • Decided 10/31/2014
  • Published 10/31/2014

Judges

  • Murtha

Court

  • United States Second Circuit

Counsel