Commonwealth v. Schneiter

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• highlighting that proposed lead plaintiff groups must \demonstrate their ability to function as a cohesive and independent unit to protect the interests of the class\
• declining to appoint individual member of group because it “at no time sought to serve as individual lead plaintiff”
• rejecting movant with largest individual financial interest where movant’s prior “statements would provide fodder” for class certification challenge
• “Allowing unrelated plaintiffs to band together in order to manufacture a larger financial interest . . . ensures that the lawyers, who are invariably the matchmakers behind such marriages of convenience, are the true drivers of the litigation.”
• finding typicality where a plaintiff sought “recovery for losses incurred as a result of defendants’ alleged misrepresentations and omissions with respect to” a single course of conduct “whose revelation resulted in declines in the price of . . . securities”
• \A plaintiff group will generally be rejected if the court determines that it is simply an artifice cobbled together by cooperating counsel for the obvious purpose of creating a large enough grouping of investors to qualify as lead plaintiff.\

Source: CourtListener parenthetical corpus (CC0).