United States Fourth Circuit

Certification of a class action alleging violations of the Securities Act of 1933 is reversed where the class action was not the superior method for a fair and efficient adjudication of the controversy since there was a currently pending bankruptcy adversary proceeding dealing with most of the same issues in the class action.

Appellate Information

• Argued 02/02/2006
• Decided 03/14/2006
• Published 03/14/2006

Judges

• Before WIDENER, LUTTIG, and KING, Circuit Judges.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• ARGUED:  Daniel P. Shapiro, Goldberg, Kohn, Bell, Black, Rosenbloom & Moritz, Ltd, Chicago, Illinois, for Appellant.  Gilbert Scott Bagnell, Bagnell & Eason, L.L.C., Columbia, South Carolina, for Appellees.   ON BRIEF:  Elizabeth Van Doren Gray, Allen J. Barnes, Sowell, Gray, Stepp & Laffitte, P.L.L.C., Columbia, South Carolina;  Steven A. Levy, Andrew R. Cardonick, Goldberg, Kohn, Bell, Black, Rosenbloom & Moritz, Ltd, Chicago, Illinois, for Appellant.  Chad McGowan, S. Randall Hood, McGowan, Hood, Felder & Johnson, Rock Hill, South Carolina;  Randall M. Eason, Bagnell & Eason, L.L.C., Lancaster, South Carolina, for Appellees.