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CERA LLP Obtains Rare Jury Verdict On Behalf Of Plaintiffs In Securities Fraud Class Action

In June 2022, the firm together with co-counsel conducted a rare jury trial of a securities fraud class action in the United States District Court for the Southern District of New York, and obtained a verdict on behalf of the Class. The case is captioned Gruber v. Gilbertson, et al., No. 16-9727 JSR (S.D.N.Y.). After a seven day jury trial, the jury found in favor of Plaintiff and the Class and determined that the price of Dakota Plains common stock during the Class Period of March 12, 2012 through August 16, 2016 was inflated by 57% as a result of the fraud. Post-verdict proceedings are ongoing in the district court, and it is anticipated a judgment will be entered in favor of the Class in the next several months. This jury verdict culminated almost a six year litigation effort by Cera LLP which also resulted in a $13.95 million settlement of the Class claims against the officers and directors of Dakota Plains Holdings, Inc.

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