CA5 - Certification of Securities Fraud Class

Feder v. EDS (Garwood, J.)

This is an interlocutory appeal from the certification of a plaintiff class in a securities class action. This opinion largely concerns the adequacy of class representation. The court rejects arguments that New Jersey is not an adequate representative even though: 1) it shares the same accountant as the defendant corporation; 2) some other class members are independently suing the defendant for ERISA violations; 3) the named plaintiff’s lawyer has an "unusual fee arrangement"