United States Second Circuit

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Pennsylvania Public School Employees’ Retirement System v. Morgan Stanley & Co., 13-2095-cv (L)

Denial of class certification, dismissal of plaintiff Commerzbank’s fraud claims for lack of standing, and dismissal of plaintiff Commonwealth of Pennsylvania Public School Employees’ Retirement System’s (PSERS) claims for lack of diversity jurisdiction is: 1) affirmed with respect to the denial of class certification and dismissal of PSERS’s claims; and 2) reversed in part, where it was not a permissible exercise of discretion for the district court to limit Commerzbank’s ability to establish its standing.

Appellate Information

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


  • Winter


  • United States Second Circuit