Securities — Class Certification

On January 24, 2007, the Second Circuit instructed the prevailing defendants/appellants in the IPO Securities Litigation (In re Initial Public Offering Sec. Litig., 2006 U.S. App. LEXIS 29859 (2d Cir. Dec. 5, 2006)) to respond to the petition for rehearing and rehearing en banc filed by the plaintiffs/appellees. Since petitions for rehearing are often denied without requesting a responsive brief, this is notable, but not predictive.

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