Robbins Geller Attorneys Secure Class Certification for Dell Investors
On March 29, 2018, the Honorable Lee Yeakel of the United States District Court for the Western District of Texas, Austin Division, certified a class and appointed Robbins Geller as class counsel in City of Pontiac General Employees’ Retirement System v. Dell Inc.
Dell is a global information technology company that designs, develops, manufactures, markets, sells and supports mobility and desktop products, including notebooks, tablets, desktop personal computers (“PCs”), workstations, smartphones, servers and networking products. The case charges Dell and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Specifically, the case alleges that during the class period, while defendants were repeatedly assuring investors that Dell’s PC business was thriving, defendants knew, but failed to disclose, that Dell was experiencing weakened demand and severe pricing pressure in its PC product line in non-U.S. markets. Additionally, as growth in Dell’s PC product line was plummeting, defendants further concealed pervasive operational deficiencies within the company’s sales division, which were also hindering Dell’s PC business.
“Having reviewed the pleadings and all supporting evidence in this case, and looking beyond the pleadings to understand the claims, defenses, relevant facts, and applicable substantive law, the court finds that the Retirement System has asserted typicality in this case,” stated the court when appointing the City of Pontiac General Employees' Retirement System as class representative.
The court noted that the Retirement System has “protected the interests of the class by retaining Robbins Geller Rudman & Dowd LLP as class counsel,” and agreed that the Firm is “among the most experienced securities class action law firms in the country.” The court concluded that the Retirement System satisfied the adequacy requirement and appointed Robbins Geller as class counsel.
Robbins Geller attorneys Darren J. Robbins, Samuel H. Rudman, Tor Gronborg, Danielle S. Myers, X. Jay Alvarez, Laurie L. Largent, Steven M. Jodlowski and Rachel Cocalis obtained this result for investors.
City of Pontiac General Employees’ Retirement System v. Dell Inc., et al., No. 1:15-cv-00374-LY (W.D. Tex. Mar. 29, 2018).
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