Investors Want Cobalt's Class Cert. Redo Bid Nixed
Law360, New York (August 4, 2017, 1:55 PM EDT) -- Investors suing Cobalt International Energy Inc. in connection with investor losses stemming from Cobalt's alleged bribery of Angola officials asked a Texas federal judge on Thursday to deny the company's request to reconsider class certification, arguing the precedent cited by the company doesn't actually support its argument.
According to the investors, the U.S. Supreme Court decision in California Public Employees Retirement System v. ANZ Securities, Inc. that Cobalt says supports its argument against class certification because of statute of repose requirements under the Securities Act does nothing of the sort. Cobalt's claim that certification was wrong because many of the claims...
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