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MALACK v. BDO SEIDMAN, LLP

No. 09-4475.

617 F.3d 743 (2010)

John A. MALACK; Michael R. Rosati; Virgil Magnon; S.S. Rajaram, M.D.; Hayward Pediatrics, Inc.; Henry Munster, Appellants v. BDO SEIDMAN, LLP.

United States Court of Appeals, Third Circuit.

Filed: August 16, 2010.

Attorney(s) appearing for the Case

Todd S. Collins (argued), Elizabeth W. Fox, Neil F. Mara, Berger & Montague, Philadelphia, PA, for Appellants.

Jacob A. Goldberg, Faruqi & Faruqi, Jenkintown, PA, for Appellants.

Kurt B. Olsen, Klaftner, Olsen & Lessner, Washington, DC, for Appellants.

Jill M. Czeschin, Matthew A. Goldberg, Timothy E. Hoeffner (argued), DLA Piper, Philadelphia, PA, for Appellee.

Before: SMITH, FISHER, and GREENBERG, Circuit Judges.

OPINION

SMITH, Circuit Judge.

This appeal arises from the denial of class certification in a securities fraud class action. John Malack purchased notes issued by American Business Financial Services, Inc. ("American Business"), a subprime mortgage originator, and those notes were later rendered worthless during the subprime mortgage meltdown. He now seeks compensation from BDO Seidman LLP ("BDO"), an accounting firm that assisted American Business in allegedly...

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