Fogarazzo v. Lehman Bros.

OPINION AND ORDER

SCHEINDLIN, District Judge.

I. INTRODUCTION

Plaintiffs, a class of investors who bought shares of RSL Communications, Inc. (“RSL”), allege that defendants, three investment banks, fraudulently manipulated the price of RSL stock by issuing materially misleading analyst reports. Plaintiffs now move for class certification and defendants oppose the motion, asserting that individual questions of law and fact predominate over common questions.

II. FACTS

On May 21, 2004, I issued an Opinion denying defendants’ motions to dismiss and summarizing plaintiffs’ claims.1 Familiarity with…