Second Circuit Review: Jurisdictional Effect of Plaintiff’s Loss of Financial Interest in a Derivative Suit

Litigation partners Martin Flumenbaum and Brad Karp’s latest Second Circuit Review column, “Jurisdictional Effect of Plaintiff’s Loss of Financial Interest in a Derivative Suit,” appeared in the October 24 issue of the New York Law Journal. The authors discuss whether plaintiffs' who lose their individual stake in litigation through a transaction or intervening event should have their case dismissed as moot, or if the court may retain jurisdiction to consider plaintiff substitution under Rule 17(a)(3) to avoid dismissal. Litigation associate Melina Meneguin Layerenza assisted in the preparation of this article.