Case Study
Ohio Public Employees Retirement System (OPERS) v. Federal Home Loan Mortgage Corporation et al.
A USDC judge denied plaintiff’s motion for class certification on market efficiency, price impact, and C o m c a s t grounds and excluded opposing expert’s testimony. Retained by Morgan, Lewis & Bockius The plaintiff, OPERS, claimed that Freddie Mac concealed certain risks in its mortgage portfolio and that when these risks materialized, its stock price dropped. Counsel for Freddie Mac retained Cornerstone Research and Paul Gompers of Harvard Business School to respond to the opposing expert’s proposed model for measuring damages on a classwide basis and consistent with plaintiff’s theory of liability. “When a class plaintiff presents a damages model that is vague, indefinite, and unspecific, or simply asserts that there are unspecified ‘tools’ available to measure damages, the model amoun