8.22.2007

M.D. Florida Notes Split Re Certification for Interlocutory Appeal and Group Pleading Doctrine Under the Private Securities Litigation Reform Act

Per In re Miva, Inc., Securities Litigation, Slip Copy, 2007 WL 2077611 (M.D.Fla . Jul 17, 2007) (NO. 2:05-CV-201FTM29DNF):

The Court may certify an order for interlocutory appeal if the Court is "of the opinion that such order involves a controlling question of law as to which there is a substantial ground for difference of opinion and that an immediate appeal from the order may materially advance the ultimate termination of the litigation ..." 28 U.S.C. ยง 1292(b). Defendant seeks certification for an interlocutory appeal concerning whether the "group pleading doctrine" survives the Private Securities Litigation Reform Act, and if so the scope of the doctrine. Both the Supreme Court and the Eleventh Circuit have declined to decide the issue, Tellars v. Makor Issues & Rights, Ltd., ---U.S. ----, ---- n. 6, 127 S.Ct. 2499, 2511 n. 6, --- L.Ed.2d ----, ---- n. 6 (2007); Phillips v. Scientific-Atlanta, Inc., 374 F.3d 1015, 1018-19 (11th Cir.2004), and the circuits have split. While there is an undecided issue of law, the Court concludes that this case does not satisfy the certification standards.

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