In The News

Fourth Circuit Court of Appeals Overturns a Trial Court's Certification of a Class Action

5/12/2004

Recently, John Tinney and Kim Fields, in conjunction with lawyers from Mayer Brown Rowe & Maw, successfully convinced the Fourth Circuit Court of Appeals to overturn the trial court's certification of a class action. The plaintiffs sought certification of a class to adjudicate their securities fraud claim against Grant Thornton, LLP, the last outside auditor of the Bank of Keystone before it ultimately failed in 1999.

The Fourth Circuit agreed with Grant Thornton that the trial court's analysis did not meet the requirements of Rule 23(b)(3) and remanded the case for further proceedings. Gariety, et al. v. Grant Thornton, LLP, et al., Appeal No. 03-1629 (4th Cir., 5/12/04).