Court Erred In Certifying Class In Securities Suit, Split 8th Circuit Panel Rules

Mealey's (April 13, 2016, 2:25 PM EDT) -- ST. PAUL, Minn. — A federal district court abused its discretion in granting class certification in a securities class action lawsuit because shareholders failed to satisfy the predominance requirement under the Federal Rules of Civil Procedure, a split Eighth Circuit U.S. Court of Appeals panel ruled April 12 (IBEW Local 98 Pension Fund, et al. v. Best Buy Co., Inc., et al., No. 14-3178, 8th Cir.; 2016 U.S. App. LEXIS 6616).

(Opinion available. Document #57-160418-085Z.)

Lead plaintiff Marian Haynes and named plaintiff International Brotherhood of Electrical...
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