City of Pontiac General Employees' Retirement System v. Lockheed Martin Corp.

MEMORANDUM

JED S. RAKOFF, District Judge.

Although it has roots in English equity jurisprudence, the modern form of federal class actions took shape largely after the 1966 amendment to Rule 23 of the Federal Rules of Civil Procedure and is still evolving in unfamiliar, unpredictable ways. In particular, the recent attempts by Congress and the Supreme Court to curtail what they perceive as vexatious, even ex*635tortionate class action filings have spawned innovative but problematic reactions — as this case illustrates.

By way of background, on December 14, 2012, 2012 WL 6429784, the Court, by…