Cobalt Wants Redo Of Class Cert. In Investors' Bribe Case
By Michael Phillis (July 14, 2017, 1:55 PM EDT) -- Cobalt International Energy Inc. asked a Texas federal judge on Thursday to rethink an order that granted class certification to hundreds of investors suing the company for allegedly bribing Angolan officials and making misrepresentations that cost the investors billions, arguing a recent U.S. Supreme Court decision changed the case's calculus.
Cobalt argued that when U.S. District Judge Nancy F. Atlas approved the investors' motion for class certification in mid-June, it was before the Supreme Court decision in California Public Employees Retirement System v. ANZ Securities, Inc., which detailed statute of repose requirements under the Securities Act. That decision meant that the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!