Cohen
Cohen v. United States District Court for the Northern District of California
Opinion
Lead Opinion
Fletcher, J.
Petitioner Roberto Cohen petitions for a writ of mandamus vacating the district court’s December 23, 2008, order to the extent that it appointed Girard Gibbs LLP as co-lead counsel and requiring the district court to appoint Kahn Gauthier Swick, LCC, as co-lead counsel. We grant the petition for a writ of mandamus in part and order the district court to vacate its order appointing Girard Gibbs LLP as co-lead counsel.
FACTS AND PROCEDURAL BACKGROUND
This case presents the issue of whether the district court has authority to select lead counsel under the Private Securities Litigation Reform Act of 1995 (“PSLRA”), 15 U.S.C. § 78u-4.
The underlying litigation is a consolidated putative securities fraud class action *707 brought by investors who purchased NVI-DIA Corporation securities between November 8, 2007 and July 2, 2008. In September of 2008, Lisa Miller filed the first putative securities fraud class action against NVIDIA, which the district court consolidated with two other actions. The Complaint alleges, among other things, that NVIDIA fraudulently concealed from investors the use of flawed materials and processes in producing certain products, and that the stock price…