Chalk up a win for the plaintiffs in the once-again bubbling area of class action certification standards now that the 3rd U.S. Circuit Court of Appeals has refused to decertify a class of investors who claim there were significant misstatements made in the initial public offering of stock for Constar International.
Defense lawyers in In re Constar International Inc. Securities Litigation had hoped to capitalize on a recent trend in the 3rd Circuit to demand a stricter and more rigorous approach to certifying class actions.
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