Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
4Activity
0 of .
Results for:
No results containing your search query
P. 1
Request to be lead counsel in SEPTA vs. Orrstown Bank

Request to be lead counsel in SEPTA vs. Orrstown Bank

Ratings: (0)|Views: 14,945|Likes:
Published by Franklin Opinion
The memorandum summarizes the position of SEPTA in its effort to recover its investment lost after buying Orrstown Bank stock in 2010. Filed in U.S. District Court, Pa. Middle District.
The memorandum summarizes the position of SEPTA in its effort to recover its investment lost after buying Orrstown Bank stock in 2010. Filed in U.S. District Court, Pa. Middle District.

More info:

Categories:Types, Business/Law
Published by: Franklin Opinion on Mar 28, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

07/10/2013

pdf

text

original

 
CHIMICLES & TIKELLIS LLP
Nicholas E. Chimicles, Pa. Id. No. 17928Kimberly Donaldson Smith, Pa. Id. No. 84116Christina Donato Saler, Pa. Id. No. 92017Benjamin F. Johns, Pa. Id. No. 201373One Haverford Centre361 West Lancaster AvenueHaverford, PA 19041Phone (610) 642-8500Fax (610) 649-3633
UNITED STATES DISTRICT COURTMIDDLE DISTRICT OF PENNSYLVANIA
SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY,on behalf of itself and all otherssimilarly situated,Plaintiff,v.ORRSTOWN FINANCIALSERVICES, INC., ORRSTOWNBANK, ANTHONY F. CEDDIA, JEFFREY W. COY, MARK K.KELLER, ANDREA PUGH, THOMASR. QUINN, JR., GREGORY A.ROSENBERRY, KENNETH R.SHOEMAKER, GLENN W. SNOKE, JOHN S. WARD, JOEL R.ZULLINGER, and BRADLEY S.EVERLY,Defendants.Civil Action No. 1:12-cv-00993-YECF
MEMORANDUM IN SUPPORT OFSOUTHEASTERNPENNSYLVANIA TRANSPORTATIONAUTHORITY’S MOTION TO BEAPPOINTED LEAD PLAINTIFFAND FOR APPROVAL OF ITSSELECTION OF LEAD COUNSEL
 _________________________________ 
Case 1:12-cv-00993-YK Document 28-2 Filed 07/24/12 Page 1 of 26
 
i
 TABLE OF CONTENTS
I. INTRODUCTION ........................................................................................... 1II. PROCEDURAL HISTORY ............................................................................ 4III. SUMMARY OF THE FACTS ........................................................................ 6IV. ARGUMENT ................................................................................................... 9A. SEPTA Should Be Appointed Lead Plaintiff ........................................ 91. The Procedures Required By The PSLRA ..................................... 9(a) SEPTA Has Complied With The PSLRA ........................... 11(b) SEPTA Has the Largest Financial Interest In the Action .... 13(c) SEPTA Otherwise Satisfies Rule 23.................................... 14(i) SEPTAs Claims Are Typical of the Claims of theClass ............................................................................. 15(ii) SEPTA Will Adequately Represent the Class .............. 162. Presumption Not Rebutted ........................................................ 18B. The Court Should Approve SEPTAs Selection of Lead Counsel ..... 18V. CONCLUSION .............................................................................................. 20
Case 1:12-cv-00993-YK Document 28-2 Filed 07/24/12 Page 2 of 26
 
ii
 TABLE OF AUTHORITIES
 
CASES
In re American Bus. Finance Services, Noteholders Litg.,
2005 U.S. Dist. LEXIS 5074 (E.D. Pa. Mar. 29, 2005) ................................ 15
In re Cendant Corp. Litigation
,264 F.3d 201 (3d Cir. 2001) .............................................................. 11, 13, 15
In re Herley Industries Inc.,
2010 U.S. Dist. LEXIS 3463 (E.D. Pa. Jan. 15, 2010) ................................ 4, 6
 Janovici v. DVI, Inc.,
2003 U.S. Dist. LEXIS 22315 (E.D. Pa. Nov. 25, 2003) .................. 11, 15, 17
Lowrey v. Toll Brothers, Inc.,
2007 U.S. Dist. LEXIS 99501 (E.D. Pa. Jun. 29, 2007) ............................... 15
In re Sterling Financial Corp. Securities Class Action,
MDL No. 07-1879, 2007 U.S. Dist. LEXIS 93708 (E.D. Pa. Dec. 21,2007) .............................................................................................................. 14
In re Vicuron Pharms., Inc. Sec. Litigation,
225 F.R.D. 508 (E.D. Pa. 2004) .............................................................. 13, 15
STATUTES
15 U.S.C. § 77z-1(a), et seq ..............................................................................
passim
 15 U.S.C. § 78u-4(a), et seq ..............................................................................
passim
 
Case 1:12-cv-00993-YK Document 28-2 Filed 07/24/12 Page 3 of 26

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->