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TAYLOR CITY GEN. EMPLS. RET. SYS. v. MAGNA INTL.

No. 12 Civ. 3553(NRB).

967 F.Supp.2d 771 (2013)

CITY OF TAYLOR GENERAL EMPLOYEES RETIREMENT SYSTEM, Individually and on Behalf of All Others Similarly Situated, Plaintiff, v. MAGNA INTERNATIONAL INC., Frank Stronach, Donald J. Walker, and Vincent J. Galifi, Defendants.

United States District Court, S.D. New York.

August 23, 2013.

Attorney(s) appearing for the Case

Samuel H. Rudman, Esq., Joseph Russello, Esq., William J. Geddish, Esq., Robbins Geller Rudman & Dowd LLP, Melville, NY, for Plaintiff.

Andrew W. Stern, Esq., Nicholas P. Crowell, Esq., Cameron Moxley, Esq., James O. Heyworth, Esq., Sidley Austin LLP, New York, NY, for Defendants Magna International Inc., Donald J. Walker, and Vincent J. Galifi.

Jay B. Kasner, Esq., Rachel J. Barnett, Esq., Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY, for Defendant Frank Stronach.

MEMORANDUM AND ORDER

NAOMI REICE BUCHWALD, District Judge.

An actionable securities fraud claim requires more than a frustrated investor. Nevertheless, that is all we have here. Lead plaintiff Boilermaker-Blacksmith National Pension Trust ("plaintiff") filed this putative class action on behalf of all persons and entities that purchased the common stock of global automotive supplier Magna International Inc. ("Magna" or the "Company") between August 6, 2010...

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