BlackBerry Wins Named Plaintiffs Bid to Revive Securities Claims

The Second Circuit rejected a bid Thursday by two individually named plaintiffs to revive their claims in a proposed securities fraud class action against BlackBerry Ltd. and several individually named defendants, deciding they were required to join the class’s earlier appeal if they wanted to stay in the suit after it was initially dismissed.

Federal Rule 3, which covers procedures for commencing a civil lawsuit, requires that individually named plaintiffs in a class action provide individual notice of appeal, but nothing in the lead plaintiffs’ appeal on behalf of the class indicated named plaintiffs Yong M. Cho and Batuhan Ulug ...