Winston & Strawn partner Neal Marder, who serves as chair of the firm's consumer class actions practice, was quoted in Thomson Reuters News & Insight: Securities Law on June 4, 2013. In the article, "China Automotive investors lose class certification bid," Mr. Marder discusses a federal judge's recent ruling in which she refused to allow investors suing China Automotive Systems, Inc. to pursue their securities fraud claims as a class action.
On May 31, 2013, U.S. District Judge Katherine Forrest of the Southern District of New York denied class certification in a lawsuit by shareholders. Neal Marder, representing China Automotive, said it was one of only two decisions he was aware of where an investor class asserting securities fraud claims against a Chinese reverse merger company was not certified.
"Most of these cases it is very difficult for defendants to defeat class certification," he said. As a result of the decision, depositions in the case have been postponed or canceled.
Neal Marder is based in Winston & Strawn's Los Angeles office and concentrates his practice on complex business and commercial litigation, white collar, securities, internal investigations, and antitrust, with an emphasis on the defense of class actions.