Howington v. Ghourdjian

MEMORANDUM OPINION AND ORDER

KENNELLY, District Judge.

The Court previously found defendants liable on a shareholder’s derivative claim brought by Robert Howington III on behalf of SellSignal.com, Inc., and scheduled a trial to determine the appropriate remedy. Shortly before the date set for the trial, the four SellSignal shareholders who were not already parties to the case were granted' leave to intervene, and they were appointed “lead plaintiffs” for reasons that were explained in an oral ruling. The new lead plaintiffs then accepted a settlement proposal that previously had been made by…