Kakkar v. Bellicum Pharmaceuticals, Inc. et al

Filing 37

ORDER denying 14 MOTION to Consolidate; granting 15 MOTION to Consolidate; denying 17 MOTION for Appointment of Lead Plaintiff and Approval of Lead Plaintiff's Selection of Lead Counsel. (Signed by Judge Alfred H Bennett) Parties notified.(gclair, 4)

United States District Court
Southern District of Texas

ENTERED
UN I
TED STATES D I
STRI CO U RT
CT
SO U TH ERN D I
STRI O F TEX A S
CT
H OU STO N DI I ON
V SI

March 26, 2019
David J. Bradley, Clerk

KA KK AR ,

Pl ntf ,
ai i f

BELLI
CUM PHARM ACEUTI
CALS,I ,
NC.et
al
,
Dee
f ndan s
t.
O R D ER

Beor t Coul ae Pli ifJ Sode J.s(k
f e he
' r antf ohn
t
c, r' $Sodee' M oton f Appoi me a
'
) i or
nt nt s

Le d Couns (
a
el Doc./1 ,Pl ntfs
/4) ai if'Davi Ki (û m' 5Li Siberti (û l rti ',
d m tKi ' nda l sen tsibe sen')
)
Frncs o Dos Ra Al rdo C6 va a ',a Rob tKe d (t nnad' (ole i y
a ic
mos vaa
Al r do') nd
er nnar tKe r ' c lctvel
)
t lc l t Gr p' Moton t f Appoit
û ium nvesor ou '
Bel
)
i o or
nmentas Le Couns (
ad
el Doc./1 ,a
/5) nd

Pli ifDong Ka s(û ng' MotonfrAppoit nta Le Couns l( /1 .TheCoul
antf
ng' i
Ka ' i o
)
nme s ad
e Doc./7)
'
t
rviwe a1s
e e d l uppori d me srl e t t vai c tng Motons( /1 20 .
tng ocu nt eatd o he rous ompei
i Doc./6, -23)
Addii ly,t Cour he r or la gum e on t Pl n if 'M otons A fe r e i t pa te '
tona l he
t ad a r
nt he ai tf s
i . t r evi w ng he r i s
a g e sa a i bl l ga au ho iy, he Cour gr nt Be lc I t G r p' M o i
r um nt nd pplca e e l t r t t
t a s li um nvesor ou s ton.
B ackground

Thi i a f r l s urtes cl s a ton br
s s ede a ec ii
as c i
ought on be f of i s or w ho p cha e
hal
nve t s
ur s d

publcyta d scurtesofBelcum Pha ma utc s l (û fnda ' bewe n May8,201
il rde e ii
li
r ce ial, nc.tDee nt' t e
)
7
t J nu y 30,2018 (he t a sPei '.Thecls i û e ki t rcove da
o a ar
t t s rod'
cl
)
a s s k e ng o e r magesc e by
s
aus d
Dee nt'vi ai oft f r s cu ii lwsa t puruer medi unde Se i 1 b)
fnda s oltons he edeal e rtes a nd o s e es
r ctons 0(

a 20( of t Se ii Excha Ac of l (he dExc nge Ad' and Rul 1 5
nd a) he curtes
nge t
934 t k ha
'
)
e 0bpr ul t d t r unde ,aga ns t Com pany and c r a n of is t of i a s' D oc /1 a 1
om ga e he e
r
i t he
e ti
t op fci l .
'
. / t -2.

The c e Ru y v Belcum Phar eutcal,I .etaI,Ci No.1 18as d . li
mac i s nc
. v.
1- 000795 ( D.
S.

(k fy' wa c oldaedi ot sca e.
$#l# ' s ons i t nt hi s
)
I
l.

L egalSt
andard

The Prv t Se urte Lii ton Re o m Ac (L
ia e c iis tgai
fr
t I
PSLRA' s t f t t pr dur f
' e s orh he oce e or
)

c i al dpli ifi s c iiscls a tons l U. C.j78u-4( ( ( . trnotc has
hoosng ea antf n e urte a s ci . 5 S.
a)3)B) Afe ie
be n gi n t c as m e be s a t c esha be n c olda e t Cour i t a
e ve o l s m r nd he as
ve e ons i t d, he
t s o ppoi a l a
nt e d

pli ifdll s aspr tc bl 'l a j78u a( ( (i.
antf ças oon
acia e. d t
'
-4()3)B)i)
Se ton 21 a( ( of t a nde Exc nge Ac rquie t Cour t a
ci
D()3)B) he me d ha
t e rs he
t o dopt a
r buta e pr s pton t t t m os a qua e pl ntf i a prva e a t o a ii unde t s
e t bl e um i ha he
t de t ai if n ny i t c i n r s ng
r hi
c pt ri t pe s or g ou ofpe s t t
ha e s he r on
r p
r ons ha :

( )haseiherfldt c an orma amotoni r pons t anotc ...;
aa
t ie he omplit
de
i n es e o
ie
( i t deemi ton oft cour,hast lr tfnanca i ers i t r i
bb) n he tr nai
he t
he ages i il nt et n he elef
s
oughtby t cl s and
he as ;

( )ohe iestsi t rquie nt ofRul 23oft Fe r lRul ofCi l
cc t nvs aifes he e rme s
e
he de a es
vi
Pr edur
oc
e.

1 U. C.j78 a( (i)l.
5 S.
u-4()3)ii()
I a pr s pton i c e t d t a pa t i t m os ade t l d pl ntf , i i ay be
f
e um i s r a e hat
ry s he
t qua e ea ai if t l
m
r bute o y upo pr by a m e be of t pur t pl i i f cl s t t t pr s ptvel
e t d nl
n oof
m r
he pored a nt f as ha he e um i y

mos ade t pl ntf 'et r 1 û l notfil a a quaey pr ec t i ee t oft
t quae ai if ihe ) l l
wi
ary nd de tl ot t he ntrss he

ca s' o 2 ds s b e tt u i u d fns st a rnd rs h pan ific p bl o a e u tl
ls' r ) t u j c o n q e ee e h t e e uc litf n a a e f d q aey
;
i
rpr e i t cl s'15U. C.j78 a)3)B)ii(l.
e esntng he as.'
S.
u-4( ( ( (i)I)
1
11.

A nal s
ysi

N one of t M ova s f l d eiher t c pl nt i t s ca e or t Ru y com pl i ,bu
he
nt ie t he om ai n hi s
he d
a nt t

ea hma atmeymotont bea ne asladpl nif Se l5U. C.j78 a( ( (û
c de i l
i o ppoitd e aitf. e
S.
u-4()3)A) t
no
2

lt rt n 60 da afe t da e on whih t no i i publs
a e ha
ys t r he t
c he tce s
ihed,a membe oft pur td
ny
r he pore

cas ma movet c tt sr aslad pli if' .Notceconc ni t pe
ls y
he our o eve e antf.) i
'
er ng he ndenc oft s
y hi
l w s t was publs d on Gl
a ui
i he
obe News i e a none of t m o ng pa te c l d t
w r nd
he
vi
ri s halenge he
a qua y of t notc Se Doc./1 Ex. Be aus ea h M ova tm el fl d t i M oton f
de c
he i e. e
/ 4, 2. c e c
nt i y ie he r
i or
Appoi t e a Le d Pl ntf ,t Cour t nst t t o r m ai ng e e e soft pr s pton.
n m nt s a ai if he
t ur o he w e ni l m nt
he e um i
A . Larges Fi
t nanci Interest
al

tl PSLR A doe no de i a e a pr e e f de e m i ng t ia ge t fna a
i-he
s t lne t
oc dur or t r ni he l r s i nci l
i e e t a ong t pr
nt r s ' m
he opos d cl s m em be s' l r Enr Cor Sec Lii ,206 F. D .
e as
r. n e
'
on
p. . tg.
R. 427,440

( D.Te 2002) Howe r f f t sco ' fnd r e tt t
S.
x.
.
ve, our acor uls i elvan o hecalulton oft lr s
t
c ai
he age t
fna i itr tar 1 t numbe ofs r spur s d;2)t numbe ofne s r spur s d;
i ncal nees e ) he
r ha e cha e
he
r
t ha e cha e

3)t t a ne f e
he otl t unds xpende by t pli if d i t cl spei a 4)t a oxi t
d he antfs urng he as rod; nd he ppr mae
l s s f e by t pl ntf s I Cour s pl c t gr t t e phas s on t f t f c o ,
os es ufer d
he ai if . d
t a e he ea es m
i
he ourh a t r
tna i l s s f r d by t pl i if .l r Se
i nc al os uf e e
he a ntf s n e quan Com m c' S. Se Lii ,289 F.Su 3
s
ns A. c. tg.
pp. d

41 420( D. Y. 8)
6, E. N. 20l .
U nde t s crt ra, Beli um l t Gr
r he e ie i
lc
nvesor oup has t l r s tna al i t r t
he a ge t i nci n e es .

Coleci y ism e be ss f r d $420, i l s . Doc.#1 Ex.2.Ast t ot M o t ,
l tvel t m r ufe e
806 n os esl
6,
o he her van s
Pli ifSode s f r $57, 4. i l s s a Pl i ifKa s f r $95, 2. 7 i l s s
antf
c ufe ed
60 78 n os e nd antf ng uf e ed
45 1 n os e .
Doc.#1 Ex. 4' Doc /1 Ex.4.On e h m ea ur l s s s f r d,t al s r s ne s r s
4,
,
. / 7,
ac
s e os e uf e e ot ha e , t ha e
pur ha e a ne f
c s d, nd t unds e
xpende Beli um l s or Gr
dlc
nve t
oup' expendiur s orl s i g ea er
s
t e
os es s r t
t t ot t M ovant Compare D oc.#1 Ex.2 wih D oc./ Ex. and Doc./14,Ex.4.
han he her wo
s.
6,
t
/17, 4
/

1Pli ifKi s f r $255, i l s s Pl i ifSibe sei l t$95, Pli ifAl r do
antf m ufe ed
820 n os e , antf l r t n os
023, antf va a
l t$ 708,a Pl ntf Ke r l t$33,
os 36,
nd ai if nna d os
255.
3

Ex.4.Ac di y,Be lcum l sorGr s f r t l r tfnanc a l sa t r or has
cor ngl
li
nve t
oup ufe ed he a ges i i l os nd he ef e
t l r s fna i i e es i t r i s htby t c as .
he a ge t i nc al nt r t n he elef oug
he l s
B. Rul 23
e

Afer de er i ng t l r t f na a i e e t t Cour m us t n e ur t t t
t
t m ni he a ges i nci l nt r s , he
t
t he ns e ha he
pe s wih t l r t fna a i e es û he w i e s t s i s t r quiem en of Rul 23. l
r ons t he a ges i nci l nt r t û r s a i f e he e r
ot
t
e ' 5
5

U. C.j 78u- a( (i)1(c) dl a PSLRA moton t a nt l d pl ntf,t Cour
S.
, )3)ii()c . tn
4(
i o ppoi ea ai if he
t
consder onl w het t pr
i s y
her he oposed pl ntf hasm ade a Spr i i y s i 't t o ofRul
ai if
s elm nar how ng' hat w
e

235 r quie e s t c iy a a
s e r m nt ypi alt nd dequa
cy a e s ts i d. l r Se an 289 F.Supp.3d a
r a i te ' n e qu s,
'
t

422(iai omit .
cttons ted)
i Typi iy
.
calt

kr ca iy i s ts i d i t c a s r pr s nt tves cl m s or de ens s ar t c of but
s ypi lt s a i f e f he l s e e e a i ' ai
f e e ypi al ,
not necess iy i i t t e of t cl ; cl s r esent i shoul have t sam e
ar l dentcal o, hos
he ass as epr
atves
d
he

itrssa d h v s frd t es meij re a o h r i te ca s a t er p e e ttv s a d
n eet n a e ufee h a n u is s t es n h ls, nd h e rs n ai e ' n
c a s m e be s c a m s nee onl s r t s m e es e i l cha a ers i s ' l r Enr Cor
ls
m r ' li
d y ha e he a
s nta
r ct i tc .' n e
on
p.

Se ,529F.Supp.2d 644,673 ( D.Tex.2006) Thee i no diput a ng t M ova st t
c.
S.
. r s
s e mo he
nt ha
e h of t i c a m s a i es out of t s m e c s e nt - a l edl f l e a m i l adi
ac
he r l i
rs
he a
our e ve s leg y a s nd s e ng
s a e e s conc r ng t Def nda s pr
t t m nt
e ni he
e nt ' oduc , BPX - . Ea h M ova w il m a s m ia
t
50l
c
nt l
ke i l r
a gum e s t t Def nda s vi a ed va i pr s ons of t Exc nge A c .A cc di y,t
r
nt ha
e nt ol t
r ous ovi i
he
ha
t
or ngl he
Cour c l
t onc udes t t Beli um l s or Gr
ha
lc
nve t
oup, t cl s m e ber w ih t l r es fnanc a
he a s m s t he a g t i i l
i e e t ha s ts i d t rbur n t m ake a pr i i r s i oft c iy.
nt r s , ve a i fe hei de o
elm na y how ng ypi alt
i A dequacy
i

The c enton bet e t M ova s i c er ng t ade
ont i
w en he
nt s onc ni he
quac of Beli um l s or
y
lc
nve t
Gr
oup.Specii l Pl ntf Kang chalenges Beli
fcaly, ai if
l
lcum l t G r s abiiy t adequat y
nvesor oup'
lt o
el
4

r pr s n t cas be us i i k uncohe i gr 'of f pe e lvi i f dif e
e e e t he l s ca e t s d
an
sve oup'
our opl i ng n our fer nt
sat s a i r e e e by t o l fr s Doc.#21 Beli
t e nd s epr s nt d
w aw i m .
. lcum l ve t Gr
n s or oup a gues t tt
r
ha he
g oup û s a s a l cohe i pa t r hi of f i ve t s e h of whom i ur ed s gnii a
r
t
i
m l,
s ve r ne s p
our n s or , ac
nc r i f c nt
l s i co
os es n nnec i w ih t r pur has of Be lcum s c ii ,a ea h ofw hom unde s a
ton t hei
c es
li
e urtes nd c
r t nds
a i pr pa e t e c e t r s
nd s e r d o xe ut he e pons biii s of l d pl i if' D oc.#20 a 2.Pl i if Sode
i lte
ea a ntf .
'
t
a ntf
c
do notc l nge t a qua ofe t roft ot Pl i if t r pr entt cl s .
es
hale
he de cy
ihe
he her a ntf s o e es he a s

The sandad f deemi ng a qua rquies ûa i r i o 1 t z al a
t r or tr ni de cy e r ûn nquiy nt ) he e nd
c
ompee of t rpr enttves couns a 2) t wilng s a a lt of t
tnce
he e es ai '
el nd
he li ne s nd biiy
he
r pr e a i s t t an a tve r e i and c r t ltga i a t pr ec t i t r t of
e es nt tve o ake
c i ol n
ontol he ii ton nd o ot t he n e es s

a e e s'Fede v F/ .Dat u 'Cor ,429F. 1 1 ( h Ci.2005)( tng Bege v
bsnte .
' r . cc a v . p.
ys
3d 25, 30 5t r
quoi r r .
Compaq Comput Cor ,257 F. 475,479 (t Ci.2001 ( e d up) Addii ly,t
er p.
3d
5h r
) clane
.
tonal he
PSLRA û equies t t s curte cl s ac i ns be m a
G
r r ha e ii s as t o
nage by a i ,abl cl s r pr s nt tves
d
ctve
e as e e e a i

whoaei ome andc de
r nfr d
an monsrt t aedieci t ltgain.'d.( i Be ge ,257
tae hey r r tng he ii to '1 quotng r r

F. a 483)(la up)
3d t
ce ned .
Be lc l t Gr i r e e e by t o l w fr s Pom e a z LLP a Fe m a
li um nves or oup s epr s nt d
w a im ,
r nt
nd der n
& She wood, a ea h a a s t be qua ii d a e r e ed c
r
nd c ppe r o
lf e nd xpe i nc
ouns w ho ha ltga e
el
ve ii t d

nu ouscas a tons Se Doc./1 Ex.5-6 ( i bot fr ha r e e e patesi
mer l s ci . e
/6,
notng h ims ve eprs ntd ri n

scu ii a tonsi t Sout r DititofTe s.Thi a ar t be a c
e rtes ci n he
he n src
xa ) s ppe s o
ommon cas a i
l s cton
ba ed upon a l ge vi a i of t Exc nge A c .The Cour c l
s
le d ol tons he
ha
t
t onc udes t c
hat ouns w oul be
el
d
a e t c pe e l r pr s ntt c a s i t s ltga i n.N ot ng a
bl o om t nty e e e he l s n hi ii to
hi boutt i i e es s a a s t
he r nt r t ppe r o
be a ag s i t t i e e t ofot r c a sm em ber . naly,a not Beli um I t Gr
nt oni tc o he nt r s s
he l s
s Fi l s ed lc
nves or oup
s f ed a s gnii
uf er
i fcant l and t has a s fci fi
oss
hus
uf i ent nanci i er t i t case' out e t
al nt es n he
s com o
s
ugges t t wilpurs t cas zeal y.
t hat hey l
ue he e
ousl
5

Pl i ifKa doesnotc le t co pe e , ofBe leum l t rGr s c
antf ng
hal nge he m t nc
e
li
nveso oup' ouns l
e,
r herhe chalenges t coheson of t group.Pl ntf K ang ar
at
l
he
i
he
ai if
gues t t Beli
hat he lcum l t
nves or

Gr p i at
ou s û
cobbl d t t r g oup ofunr a e pe e' who have no pr - ii ton r a i hi
e oge he r
el t d opl '
e ltga i el tons p

a iefo l i gt eriv sme t. c # a 1 i panifg o p wil e eal berj ce
sd r m osn h i n e t n s Do . 2l t 4.t litf r u l g n r l
A
y ee td
i t co td t r i t t i i û i pl a a tfce c
f he ur e e m nes ha t s s m y n r ii obbl d t t r by coope a i couns lf
e oge he
r tng
e or

t obvi pur e of c e tng a l r e
he
ous pos
r ai
a ge noug gr ng of i t r t q lf as l d
h oupi
nveso s o uaiy
ea

pl nif''I r Per asSe Lii ,l F.Supp.3d61 622 ( D. Y.201 .Howe r t
aitf.' n e tobr c. tg. 04
8,
S. N.
5)
ve ,he
PSLR A e es l alow s f a t r on or g ou of per ons't be a
xpr s y l
or û s
pe
r p
s 'o
ppoi e l a pl ntf . 1
nt d e d ai i f 5

U. C.j78u- a( ( (i)l.
S.
4()3)B)ii()
Furhe m or t û
t r e, he t
PSLRA does not de i w ha a û oup'ca or s d be,nor how is
tne
t gr
n
houl
t
d e be s m us be r l ed t one a he . Var s v Chi Shen
m m r ' t e at o
not r' ghe e . na
'
ghuo Phar H ol n l '
m. di gs nc.
,

5 9 F.S p 2 3 8 3 2 ( D. Y.2 08 .I fc.kth mao iy ofc u' p r tu rltd
8
u p. d 8 , 9 S. N. 0 ) n a t ' l e j rt
g
o ls emi n eae
t
iv so st j i t g te a a g o p a d e au t a moi n t d s o a c s - y c s b ss
n e tr o o n o eh r s r u , n v lae
to o o o n a e b -a e a i,
e ua i w he he t gr ng be t s r t i t r t of t c a s' l r Se
val tng
t r he oupi
s e ves he n e es
he l s . n e quans 289 F.
'
,

Su 3da 423(ii Var s,589F.Supp. a 392) l ma ngs hadeemi ton,c '
pp. t
ctng ghe .
2d t .n ki uc
tr nai ouls
t

ha e mi d:ûi t szeoft g oupl (i a e de e t tt gr wa f me i ba
ve xa ne û) he i
(
he gr ; i) ny vi nc ha he oup s or d n d
fih;a (i)t rltons p bewe n t pate .'nr Se
at nd ii he eai hi t e he ris'I e quans 289 F.Supp.3da 423(ii
,
t
ctng
Bar tv El Cor ,236F. D.1 1 ( D. Y. ).
ne , an p.
R. 58, 62 S. N. 2005)
As t t s ze of t g oup,t Fi t Cic t not û ha t Sec ii a Exc
o he i
he r
he fh r ui
ed û t he
t
urtes nd
hange
Com m i s on ha t n t pos ton t ta gr of i t s a
si
s ake he ii ha
oup nves or ppoi ed t s r a l d pl i if
nt o e ve s ea a ntf s

o dn rl s o dc mp ien mo et a tr et epes n . Be ge , 7F.da 4 8n. ( t
r iaiy h ul o rs o r h n h e ohv ro s' r r 25 3 t 7 2 5h
'
Ci.2001 (ii I r Baan Co.Se .Lii ,1 F. D.21 224 ( D. 1 )(
r
) ctng n e
c tg. 86 R.
4,
D. C.999) empha i
ss
w y
hi y- ne
ad d) The Cic ts c r wa wih lr gr
de .
rui' oncen s t age oups (. , goups of t ent or t rt ni
eg. r
6

me r)t tç r pr vi t unaflae e h ofwhom ha s fr d modett s ,a
mbes ha k e e ousy fiitd, ae
we
ve ufe e
s oses nd
w ho t ha no de ons r t d i e i or a lt t w or t t rt c r t ltga i .' I
hus ve
m t a e nc ntve
biiy o
k oge he o ont ol he ii ton ' d.
Li ewi e,t c s t tPl i ifK a r i upon f t a g e t tBeli um l s or Gr
k s he a e ha a ntf ng eles
or he r um nt ha
lc
nve t
oup

i nota ade t l d pl i if Abou e v Apple Opt l ctonis I ,No.4. 7- 23
s
n quae ea antf ,
zid .
id
oe e r c , nc.
1 CV- 99,

20l W L 539362,a * ( D.Tex.J n.22,201 ,i ve alr rgr c itng oft ve
8
t 5 S.
a
8) nvol d age oup, onssi
wel
me r (hre mari c e , one unrlt i vi l a one r e e ai of fve
mbes t e
red oupls
eaed ndi dua, nd
eprs nttve
i
difr te ii ) Thi lr r goup ofunrltd pe e ti rd t c r rie by t
feen nttes. s age r
eae opl rggee he oncens asd
he
Fi t Cicui i Ber c er ng t sze oft gr i c tng l s i e i ora lt t wor
fh r t n ger onc ni he i
he oup ndi a i e s nc ntve biiy o
k
t e he . eAbouz e 201 W L 5
og t r Se
i d, 8
39362,a *
t 4.
How e ,t Beli um l t G r i a s al gr off pe e one ofw hom has
ver he lc
nves or oup s m l oup
our opl ,

t lr tl sofa lt M ova s Pl ntf Ki .Pli ifKi al s f r a l sof$255, 20
he a ges os
1 he
nt, ai if m antf m one ufe ed os
8

(
doubl Pli ifKa sl sof$95, 2. . Theeor ,t goup i nott l gea t r i
e antf ng' os
45 17)2 rf e he r s
oo ar nd hee s
no evi nc t ti was f m e i ba f t i was nota gr br
de e ha t
or d n d aih- t
oup oughtt t i or rt
ogeher n de o

ma ua t r t g e t s fn nca l s S eOka o La En t tu w v Ade u He IhI c,
n fcu e he rae t ia ilos. e lh ma w f'Re.v . . pts at n .
y
No.4:7- 00449,20l W L 378 6 a *6 ( D.Te Aug.31 201 (kthe i vi
1 CV7
01 4, t E.
x.
, 7) sgj ndi dual
l s s ofbot g
ose
h membe s s pa st e ofa ohe puttve lad pl ntf he e ... whih
rj ur s hos
ny t r ai e
ai if r
' c
'
i em o any r a c
s ves
r
e l once n t tt sgr oft o c a sm e be s w a f m ed onl t m anuf c ur
r ha hi oup w l s
m r s or
y o
at e
t gr a e tfna i li e es i or rt be a nt d l a pl ntf ,a ea i vi
he e t s i nc a nt r t n de o
ppoi e e d ai if nd ch ndi dualpl i if
a ntf

wilrmai i sedi t outomeoft ltg i '.Ac or ngl be aus t me r oft
l e n nve t n he c
he iiaton.) c di y, c e he mbe s he
'

Belium l sorGr ( ri a l Pl ntf Ki a Pli ifSiberti ha t grae t
lc nve t oup pa tculry ai if m nd antf l sen) ve he e ts

2 Addii l , t Cour not s t s ond lr s i vi
tonaly he
t e he ec
a ge t ndi duall s wihi t Belium I t
os t n he lc
nvesor

Gr p i Pl ntf Sibe sen who l t$95,
ou s ai if l r t i
os
023 ne l t s a ountl tby Pl ntf Ka
ary he ame m
os
ai if ng.
7

i vi l tna a i e es s i t s ltga i t g oup m e be s ha t i e i t r a n
ndi dua i nci l nt r t n hi ii ton, he r
m r ve he nc ntve o em i
i s e i t ltga i and r pr e t i e es soft cl s .
nve t d n he ii ton
e es nt he nt r t
he a s
Pl i if Ka s prm a y a gum e a ns t a quac of Beli um I t Gr i
a ntf ng' i r r
nt gai t he de
y
lc
nves or oup s

t tt goup ha no pr ltgai rltons p outi ofi t ntl s s Howe r tgj
ha he r
s
e-ii ton eai hi sde nvesme ose .
ve , ûa ny
lnge i unc r a nt w ih r s c t t a
i rng e t i y, t e pe t o he dequa y s a r i s curtes f a cl s a tons ha
c t nda d n e ii r ud a s c i , s
be n c l i l r ol by t PSLRA ' r quiem e t t s curtescl sac i be m a ged
e onc us ve y es ved
he
S e r nt ha e ii as tons
na
b a tve a e c a sr pr e a i who a e i or ed a ca de o t a e t y a e diec i t
y c i , bl l s e es nt tves
r nf m
nd n m nsr t he r r tng he

ltgai 'Be ge ,257 F. a 483 (t Ci.2001.ûL g ou ma s te de et s s
ii ton. r r
'
3d t
5h r
) QAI r p y ubmi vi nc o ugge t
t te t
ha ven hough t i vi sa e unr l td, hegr i silabl t a cohe i y,e f tvey
he ndi dual r
e ae t
oup s tl e o ct
svel fec i l

ma get ltgai a ade tl rpr e t ca s' Okahoma Law Ak//Sc/ S 2017
na he ii ton, nd quaey e esnt he ls . l
'
' . ys,
W L 37801 at* He e t Beli um l s orG r s it e de conc r ng t g ou
64, 5. r , he lc
nve t
oup ubm ted vi nce
e ni he r p
m e be ' a lt a w ilngnes t c
m r s biiy nd li
s o ohes ve y m a ge t ltga i a r pr e t cl s . e
i l
na he ii ton nd e es nt he a s Se

Do .#1 ,Ex.4.The j it d caain s b te b t e g o p d mo srts ter pln
c 6
on e lr t u mi d y h r u e n tae h i a
o
t
i oor na e t r e f t ,ove s e couns l and dii nty pr e t t s ltga i f t bene i
û di t hei f or s
c
re
e,
lge l os cu e hi ii ton or he
tt

oft ca s'Doc.#20 a 5's ealo Doc.#1 a 3 ( i plnsf gr c
he ls .
'
t ,e s
6 t -4 notng a or oup ommuniai ,
c tons
c lboai a ma me oft ltgai .Furher e,t f me r ae i or
ola rton, nd nage nt he ii ton) t mor he our mbe s r nf med
a e r e e i s or .
nd xpe i nc d nve t s3
A c or ngl f t a or m en i d r s , t Cour tnds Be lc l ve t r Gr
c di y, or he f e tone ea ons he
ti
li um n s o
oup

me t t prs ton t tt gr p i t mos a quaela pli if See 1 U. C.j78ues he eumpi ha he ou s he t de t e d antf.
5 S.

4()3(i)l.
a()ii()

3Two oft member ar doct s onei an a t ne and onem e be hol am a t rsdeg eei
he
s e
or ,
s tor y,
m r ds
se '
r n
envionm ent s ences f om Yal U ni siy. The evi
r
al ci
r
e
ver t
dence s
ugges s t t m em ber ar
t hat he
s e
i o m ed a a e t di e tt ltga i D oc. / 6,Ex. ,Doc./35,Tr 7: 7: .
nf r
nd bl o r c he ii ton.
/1
4'
/
. 7- 21
8

C . R e t e Pr s pt on
but abl e um i
The pr s pton m a be r bute w ih e de e t t t gr
e um i
y
e t d t vi nc ha he oup t il not f ry a
b l
w
ail nd

a quael pr e tt i erssoft cl sort tt y aes jctt s uni dee e t t
de t y otc he nt e t he as ha he r ube o ome que fnss ha
woul rnde t m i apa e of a
d e r he nc bl
dequaey rpr s ntng t ca s' 1 U. C. j 78
tl e e e i he ls . 5 S.
'
u-

4()3)B)ii(1. Pli if Kang' agument agans Belium l t Gr
a( ( (i)1) antf
s r
it
lc
nvesor oup

t
he

pr um ptve y m os a quat l ad pl i t f i t t t gr
es
i l
t de e e
a n i f s ha he oup has no pr - ii ton r l tons p
e ltga i e a i hi
whi h Pl ntf Ka a g s m ea t gr
c
ai if ng r ue
ns he oup i a d awyer drven' g oup s m pl t
s t
l
- i ' r
i y û
cobbl d
e
t e he ' t qualf a l ad pl i if i t s ca e.How e ,as e ai d none of t c e ns
og t r' o
iy s e
a ntf n hi s
ver
xpl ne
he onc r
r i ed by Pl ntf K ang r s t t l velofs
as
ai if
i e o he e
uggesi t tt gr ca
tng ha he oup nnotf i l a ade t l
a r y nd qua e y
pr e tt c a sm e be s i e es s A gai t Cour e pha i st tone oft m e be soft
ot c he l s
m r ' nt r t .
n, he
tm
s ze ha
he m r
he
Beli um I s or G r
lc
nve t
oup a one ha over doubl t l r t sngl l s of a1 t i vi l
l
s
e he a ges i e os
1 he ndi dua
i ves o M ova s A ddi t t e ot r i vi l i s or t s r a c l a pl i if doe
n tr
nt .
ng he hr e he ndi dua nve t s o e ve s o- e d a ntf
s
not r nde t g oup i quat Se I r Se an 289 F. Supp. 3( a 426. Pl i if K a
e r he r
nade e. e n e qu s,
1 t
a ntf
ng
pr s nt d no e denc t t g oup wil no f i l a a
ee e
vi e hat he r
l t a ry nd dequa e y r pr ent t cl s .
t l e es
he a s
Addii ly, t C our not t t t g oup outi d t pr dur by w hi any po e i l
tona l he
t es ha he r
lne he oce e
ch
t nta
diput s bet e n gr
s e
w e
oup m e be s w oul be ha e s
m r
d
ndl d houl a di a e ent be w e n g oup
d
s gr em
t e r

me r ars durng t c s ofltg i Doc./1 Ex.4 at4 !9.Furhe z e,t ei no
mbes ie i he oure iiaton.
/ 6,
t nzor her s
s esin t t t gr p me r ae s jc t uni dee e t t woul rnde t m
ugg to ha he ou
mbe s r ube t o que fns s ha
d e r he
i a bl ofr pr s ntng t cl s .
nc pa e e e e i he a s
1V.

Sel i of C ounsel
ect on

Un e tePS
d r h LRA,t emo ta e u t p an ifs als be t ot a r v l ft c u t
ûh s d q ae litf h l, u j c t he pp o a o he o r,
t
s lc a rti c elt rpr s ntt cas . 1 U. C. j 78 a( ( ( .Belium
ee t nd ean ouns o e e e he l s' 5 S.
'
u-4()3)B)v) lc
l s o Gr i r pr s nt d by Pom e a z LLP a Fe m a & She w ood.A s di c s bo h
nve t r oup s e e e e
r nt
nd der n
r
s us ed, t
9

i t s d src t s r as l d c
n hi itit o e ve
ea ouns l Se Doc.#1 Ex.5-6.Furhe m or t s dititha
e. e
6,
t r e, hi src s
pr vi l a l e t l fr s t s r a c l a c
e ous y low d wo aw im o e ve s o-e d ouns l i s c ii s ltga i See I r
e n e ur te ii ton.
n e

L n r 'Sef o Re t, n .No. V. 1- 9 1 4 , 0 0 W L 3 9 9 6 , t* ( D. x. a .
a d ys ao d s.I c, CI A. 19 - 9 8 2 0
3 9 4 7 a 5 S. Te M r
30,20 (tthe Cour fndsno r s nott appoi t t l fr a Co-xad Couns .
00) sgj
ti
ea on
o
nt he wo aw ims s le
el
Boh cla l ha br d e re i p os c i s h aci .'.The Cour fnds t t
t e ry ve oa xpe ince n r e utng uc tons'
)
t i ha
Pom e a z LLP a Fe m a & Sher
r nt
nd der n
wood have e ens ve e
xt i xpere e i pr e utng s urtes
i nc n os c i ec ii
ltga i and ha w or d t e he t ih e fci ncy a w iho duplc ton of e f t or
ii ton
ve
ke og t r t t f i e
w
nd t ut
iai
f or s

u n c say ic e s i at r y' fe . Do ./5 a 1 , c #1 a 2! 2 Ex. M .Th Co r
n e e sr n ra e n tone s e s' c /1 t 5 Do . 6 t
'
'
, 5
e ut
s esno r as t no ad r t Beli um I s orG r s c c Pom er nt LLP a Fe r a
e
e on o t he e o lc
nve t
oup' hoi e:
a z
nd de m n

& She wood a e a nt d Co-lea Cl sCouns l The Cour wilpl c a a c ton on t s
r
r ppoi e
a d as
e.
t l a e s ondii
hi
appo n m e t t t 1 w fr s i ur t t t r i no d i ton of s r c or unnec s a y
i t nt ha he a im ns e ha he e s
uplca i
e vi es
esr
i ease i f
ncr
n ees.

C onc us on
l i
Fo t f r goi r a ons t Cour a
r he o e ng e s , he
t ppoi s Be lc I t Gr up as Le d Pl i if
nt li um nves or o
a a ntf

a Pom e a z LLP a Fe r a & She wood as Co-Lea Cl s Couns . Ac r ngl
nd
r nt
nd de m n
r
d as
el co di y,

Pli if Belc I t Gr s M oton (
antf lium nvesor oup'
i Doc./1 i GRANTED.Pli if Ka a
/5) s
antf ng nd
ED
Pli ifSode sM otons( #1 & Doc./7)ar D EN I .
antf
c' i Doc. 4
/1 e
I i so ORD ER ED .
ts

MA2 2 6 2 1
92
Dat
e

The Honor bl A1 H .Be t
a e
nne t
U nied St t D i t tJ
t
a es s r udge