Cooperman v. One Bancorp

MEMORANDUM OF DECISION AND ORDER ON MOTIONS FOR DISCOVERY ORDERS

GENE CARTER, Chief Judge

Plaintiffs bring this action against The One Bancorp (a bank holding company), Ernst & Young (One Bancorp’s accounting firm), and individual directors and officers *7of One Bancorp. Plaintiffs allege that Defendants knowingly or recklessly failed to disclose material adverse information concerning One Bancorp’s financial performance and condition. Plaintiffs allege that Defendants’ failure to disclose that information artificially inflated the market price of One Bancorp’s common stock and convertible…