The Ryan Cohen lawsuit was dropped because the court found that a short squeeze during the Class Per...

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The Ryan Cohen lawsuit was dropped because the court found that a short squeeze during the Class Period made the market inefficient

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The full memorandum (why the district judge denied the class certification) on Sept. 27th is 1000% worth the read: https://www.courtlistener.com/docket/64916203/131/si-v-bed-bath-beyond-corporation/

Basically, one of the tests for whether a class can be a class is that "plaintiffs must show that 'questions of law or fact common to class members predominate over any questions affecting only individual members.'" (page 17) and, during a short squeeze, this commonality test fails because class members know that the price is wrong, and "day-to-day price fluctuations were similarly dramatic and befuddling" (page 26, in screenshot).

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kuilin

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Posted: 4 months ago
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