Bacon v. Stiefel Laboratories, Inc.

OPINION DENYING CLASS CERTIFICATION

JAMES LAWRENCE KING, District Judge.

At issue is whether class certification is appropriate where a group of plaintiffs— participants in an ERISA plan and holders of individual shares of the stock of a closely-held corporation — allege a fraudulent scheme on the part of a corporation’s board members to conceal the value of the participants’ shares and to benefit improperly from the participants’ premature sale of those shares. Upon consideration of the parties’ respective filings and after hearing oral argument, the Court finds that the Plaintiffs have failed…