United States Fourth Circuit

In certifying this securities-fraud class action, the district court relied on plaintiffs' assertions alone, failing to take a "close look" at relevant matters, to conduct a "rigorous analysis," and to make findings in determining whether the requirements of FRCP rule 23(b)(3) have been satisfied.

Appellate Information

• Decided 05/12/2004
• Published 05/12/2004

Judges

• Before NIEMEYER and SHEDD, Circuit Judges, and HAMILTON, Senior Circuit Judge.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• ARGUED:Stanley Julius Parzen, Mayer, Brown, Rowe & Maw, L.L.P., Chicago, Illinois, for Appellant.  Sigmund S. WissnerGross, Heller, Horowitz & Feit, P.C., New York, New York, for Appellees. ON BRIEF:  John H. Tinney, Kimberley R. Fields, The Tinney Law Firm, Charleston, West Virginia;  James C. Schroeder, Daniel G. Hildebrand, Mayer, Brown, Rowe & Maw, L.L.P., Chicago, Illinois;  Mark W. Ryan, Andrew J. Morris, Craig Isenberg, Mayer, Brown, Rowe & Maw, L.L.P., Washington, D.C., for Appellant.  Joshua I. Barrett, Ditrapino, Barrett & Dipiero, P.L.L.C., Charleston, West Virginia, for Appellees.