Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-azd-2_08-cv-00236/USCOURTS-azd-2_08-cv-00236-0/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

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NOT FOR PUBLICATION

IN THE UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF ARIZONA

Teimuraz Tsirekidze, On Behalf of

Himself and All Others Similarly Situated,

Plaintiff, 

vs.

Syntax–Brillian Corp., et al,

Defendants. 

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No. CV-07-2204-PHX-FJM (Lead)

(Consolidated)

ORDER

CONSOLIDATING

Bloomfield, Inc., On Behalf of Itself and

All Others Similarly Situated,

Plaintiff, 

vs.

Syntax–Brillian Corp., et al.,

Defendants. 

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No. CV-08-0236-DGC

The court has before it the city of New Haven Policemen and Firemen’s Pension

Fund’s motion for consolidation, appointment as lead plaintiff, and approval of lead

plaintiff’s selection of lead counsel (doc. 52), supporting memorandum (doc. 53), and

supporting affidavit of Michael Salcido (doc. 54).

Case 2:08-cv-00236-FJM Document 13 Filed 06/04/08 Page 1 of 3
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 That action is now docketed as CV-07-2524-PHX-FJM.

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 CV-08-0236-DGC

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We find these documents unusual and somewhat exasperating. In November and

December of 2007, four securities fraud class actions were filed in this district against

Syntax–Brillian Corp. and various of its officers. One of the actions was filed by the

“Bogdanov Group.”1

 Subsequently, five members of the proposed class, including the

Bogdanov Group, filed motions to consolidate the four actions and for appointment as lead

plaintiff. The Bogdanov Group contended that the investing history of one of its members

made it uniquely qualified to serve as lead plaintiff. We specifically rejected that contention

in our order of April 4, 2008, and granted the motions to consolidate the four actions and

named as lead plaintiff St. Clair Shores Police and Fire Retirement System, as lead counsel

Coughlin Stoia Geller Rudman & Robbins, LLP, and as liaison Buckley King. 

While the consolidation and lead plaintiff motions were pending, one member of the

Bogdanov Group filed a fifth class action against Syntax–Brillian Corp. in this district, under

the caption Bloomfield Inc. v. Syntax–Brillian Corp.,2

 asserting a narrower version of the

same claims advanced in the initial action by the Bogdanov Group. Now, lead plaintiff

having been established, we are asked for the first time to consolidate the Bloomfield action

with the other four and—for some mysterious reason—to appoint as lead plaintiff a different

party also represented by Coughlin Stoia Geller Rudman & Robbins, LLP, and Buckley

King. 

It appears that the Private Securities Litigation Reform Act of 1995, 15 U.S.C. § 78u-4

(2006), which guided our previous selection of lead plaintiff, does not contemplate a motion

for consolidation after lead plaintiff has been selected. Id. § 78u-4(a)(3)(B)(ii) (“[T]he court

shall not make the [the selection of lead plaintiff] until after the decision on the motion to

consolidate is rendered.”). In any event, there is no need for dueling class actions, and we

have decided that the new “Bloomfield” claims are essentially the same as those advanced

in the previously consolidated “Bogdanov” action. We already have a lead plaintiff.

Case 2:08-cv-00236-FJM Document 13 Filed 06/04/08 Page 2 of 3
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Accordingly, IT IS ORDERED that the New Haven Policemen and Firemen’s

Pension Fund’s motion for consolidation is GRANTED, but the motion for appointment as

lead plaintiff and approval of lead plaintiff’s selection of lead counsel is DENIED (doc. 52).

 DATED this 3rd day of June, 2008.

 

Case 2:08-cv-00236-FJM Document 13 Filed 06/04/08 Page 3 of 3