Cook Inv. Co. v. Harvey
District Court for the Northern District of Ohio
1975 WL 394 (1975)
- Written by Elliot Stern, JD
Facts
A class-action lawsuit was brought against a company (defendant) alleging that the company had issued a deceptive or fraudulent proxy statement in connection with a merger. The company challenged the certification of the class on the grounds that the representative plaintiffs would not fairly and adequately represent the interests of the class. The company noted that Sachnoff, one of the representative plaintiffs, was related to one of the attorneys serving as counsel for the class action, that Sachnoff had failed to demonstrate interest in the lawsuit just as he did in a previous lawsuit, and that Sachnoff had concealed his status as a market maker. Sachnoff owned 100 shares of stock in the company.
Rule of Law
Issue
Holding and Reasoning ()
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