Berger v. Compaq Computer Corp.
Court of Appeals for the Fifth Circuit
1Opinion of the Court
JERRY E. SMITH, Circuit Judge:
In this securities litigation, the district court certified a plaintiff class and appointed class representatives. Because of legal error, we reverse and remand.
I
On March 6, 1998, Compaq Computer Corporation announced that sales from one of its North American commercial channels were not meeting expectations and that there would be price reductions and aggressive promotions to reduce inventories. About a month later, Mark Berger, on behalf of all purchasers of Compaq stock between July 10, 1997, and March 6, 1998 (the “Investors”), sued Compaq and its directors…
2Cases cited18 opinions
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