Elliott Greenleaf WINS DISMISSAL OF NATIONAL SECURITIES CLASS ACTION

In a national securities class action filed in Pittsburgh, Elliott Greenleaf successfully obtained the dismissal of a class action challenging a loan repayment program provided in 139 countries by a national wholesale chain. Through Elliott Greenleaf’ efforts, the court denied a temporary restraining order and preliminary injunction seeking to freeze assets pending resolution.

In this case, plaintiff brought a national class action in the Court of Common Pleas of Allegheny County. The corporate defendants and their officers retained Elliott Greenleaf, and Elliott Greenleaf removed the case to the United States District Court for the Western District of Pennsylvania. After successfully persuading the United States District Court to dissolve the improperly granted ex parte state court injunction, Elliott Greenleaf moved to dismiss the class action Complaint. In response, the plaintiff class representative moved for a temporary restraining order and preliminary injunctive relief, along with expedited discovery, seeking to freeze the assets of the defendants pending a final ruling. After an expedited hearing and oral arguments, the United States District Court denied the requested injunctive relief and dismissed the Complaint.

Mark A. Kearney, Timothy T. Myers, Stewart J. Greenleaf, Jr. and Colin D. Dougherty of the firm’s Blue Bell office represented the Defendants in obtaining this significant victory in a national class action that challenged business transactions in international commerce.