Judge Mulls Class Bid in NYSE Specialist Case

Law360, New York (April 30, 2008, 12:00 AM EDT) -- After years of back and forth, a U.S. district judge is considering whether to grant class certification in the long-standing case over allegedly fraudulent trading schemes at the New York Stock Exchange.

On Wednesday, David Mitchell, the Coughlin Stoia attorney representing the California Public Employees Retirement System (CalPERS), presented his argument for class certification in the illegal trading case.

A pure algorithm can be used to determine investor injury on a classwide basis, he said.

“How is a particular claimant going to get their share of...
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