Judge In American Realty Case Expects To OK Class Period
Law360, New York (August 24, 2017, 7:45 PM EDT) -- A New York federal judge on Thursday indicated that he was likely to approve the entire class period of a putative shareholder class action against American Realty Capital Properties Inc. but warned that no decision on certification is final until he puts it in writing.
In a marathon hearing, U.S. District Judge Alvin K. Hellerstein indicated that the factors for approving the class period were met, including efficiency in the market in regards to ARCP stock.
"Intuitively, if things excite analysts and analysts excite price movement, there is a degree of efficiency in the market," the judge said.
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