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Kohen v. Pacific Investment Mgmt. Co. LLC, No. 08-1075

By FindLaw Staff on July 07, 2009 4:11 PM

In an action brought under the Commodity Exchange Act involving allegations that defendant cornered a futures market, district court's certification of a plaintiff class is affirmed where: 1) at least one member of the certified class has a plausible claim to have suffered damages and thus the requirement of standing is satisfied; 2) defendants have not shown that the class definition clearly was overbroad; and 3) it would be premature to deny a class certification because of a potential conflict of interest that is and may not become actual. 

Read Kohen v. Pacific Investment Mgmt. Co. LLC, No. 08-1075

Appellate Information
Appeal from the United States District Court for the Northern District of Illinois, Eastern Division.
Argued April 1, 2009
Decided July 7, 2009

Before POSNER, EVANS, and TINDER, Circuit Judges.
Opinion by POSNER, Circuit Judge.

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