Rick Pepperman was named “Litigator of the Week” by the AmLaw Litigation Daily for persuading the U.S. Court of Appeals for the Fourth Circuit to reverse class certification in multibillion-securities litigation against Boeing. Rick shared the award with Jeff Wall of Gibson, Dunn & Crutcher.
The ruling provides defendants with stronger grounds for challenging class certification under the Supreme Court’s ruling in Comcast v. Behrend, which requires that plaintiffs provide evidentiary proof of a methodology for calculating class-wide damages in a manner consistent with their liability theory.
In an interview with the Litigation Daily, Rick stated that the Fourth Circuit’s ruling will have a significant impact on securities litigation. “Defendants should be encouraged to vigorously oppose class certification in securities cases. The Fourth Circuit’s decision provides a roadmap by articulating Comcast’s separate requirements, which plaintiffs need to take seriously.”
The S&C team representing Boeing also included Jacob Cohen, Jason Barnes and Madeline Zuschnitt.
Read our memo analyzing the Fourth Circuit reversal: Fourth Circuit Reverses Class Certification in Securities-Fraud Case.