In a class action involving a brokerage company, the plaintiffs alleged that they had experienced delays in accessing the brokerage system and executing trades.
In a class action involving a brokerage company, the plaintiffs alleged that they had experienced delays in accessing the brokerage system and executing trades. They alleged that the defendant engaged in deceptive advertising about its commission rates, capabilities of executing trades, and accessibility. The plaintiffs further claimed that their experts could determine damages on a class-wide basis.
The court found that individual issues predominated and denied certification of the proposed class.
Dr. Allan Kleidon, a senior vice president of Cornerstone Research, analyzed these claims and concluded that it would be impossible to determine on a class-wide basis whether the plaintiffs had suffered damages or to determine damages without knowing each individual’s trading intentions. The court found that individual issues predominated and denied certification of the proposed class.