Exide Investors Say Class Cert. Attack Cites Flimsy Report
Law360, New York (November 10, 2015, 7:27 PM EST) -- Investors in Exide Technologies on Monday pushed back at the bankrupt automotive and industrial battery maker’s argument against certification of a class accusing executives of covering up the company’s failure to comply with environmental regulations, saying its damages calculations are well-founded and an expert report to the contrary lacks substance.
Lead plaintiff David M. Loritz told a California federal court that the early October arguments of Exide Technologies Inc. executives against a second attempt at class certification for a group of noteholders are unsupported and the defendants’ expert report by Paul A. Gompers attacking the damages calculation for the class is...
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