MCGRAW MORRIS MAKES CLASS ACTION LAW
Posted August 12, 2015, 3:37 PM.
Plaintiff is one of approximately 300 investors to whom Defendants improperly marketed and sold a certain investment vehicle. That investment was later investigated by the Securities and Exchange Commission and determined to be a Ponzi scheme. In a previous case regarding the same investment, the circuit court had refused to certify the class because a different investor failed to timely file a motion for certification. In a published decision, the Court of Appeals agreed with McGraw Morris that the circuit court’s ruling violated the Michigan Court Rules regarding class action lawsuits and the law of the United States Supreme Court regarding binding nonparties. As a result, the Court of Appeals reversed the circuit court’s denial of class certification. The Plaintiff was represented by McGraw Morris attorneys Thomas J. McGraw and Christopher J. Raiti. Click here to read the Court of Appeal’s full opinion.