Schweiger v. Ultra Clean Holdings, Inc.

Summary

The United States District Court for the Northern District of California grants Ergül İlaslan’s unopposed motion for appointment as lead plaintiff in a putative securities class action against Ultra Clean Holdings, Inc. and related defendants. The court finds that İlaslan has the largest financial interest, satisfies the adequacy and typicality requirements of Federal Rule of Civil Procedure 23, and approves Rosen Law Firm P.A. as lead counsel.

Holdings

1. Mr. İlaslan was entitled to the PSLRA's presumption of being the most adequate plaintiff because he timely moved in response to notice, demonstrated the largest financial interest in the litigation, and made a prima facie showing of adequacy and typicality under Rule 23. No competing movant rebutted that presumption.
2. The court approved Mr. İlaslan's selection of Rosen Law as lead counsel because the firm demonstrated extensive securities-fraud litigation experience and was a reasonable choice.

Questions Presented

1. Whether Mr. İlaslan should be appointed lead plaintiff under the PSLRA.
2. Whether Mr. İlaslan's selection of Rosen Law as lead counsel should be approved.

Disposition

other