WATERFORD TOWNSHIP POLICE & FIRE RETIREMENT SYSTEM v. REGIONAL MANAGEMENT CORP.

No. 14 CV 3876-LTS.

WATERFORD TOWNSHIP POLICE & FIRE RETIREMENT SYSTEM, individually and on behalf of all others similarly situated, Plaintiffs, v. REGIONAL MANAGEMENT CORP., PALLADIUM EQUITY PARTNERS III, L.P., PALLADIUM EQUITY PARTNERS III, L.L.C., PARALLEL 2005 EQUITY FUND, LP, PARALLEL 2005 EQUITY PARTNERS, LP, THOMAS F. FORTIN, C. GLYNN QUATTLEBAUM, DONALD E. THOMAS, DAVID PEREZ, ROEL C. CAMPOS, RICHARD T. DELL'AQUILA, RICHARD A. GODLEY, JARED L. JOHNSON, ALVARO G. DE MOLINA, CARLOS PALOMARES, ERIK A. SCOTT, STEPHENS INC., KEEFE, BRUYETTE & WOODS, INC., BMO CAPITAL MARKETS CORP., JMP SECURITIES LLC, and FBR CAPITAL MARKETS & CO., Defendants.

United States District Court, S.D. New York.

March 30, 2016.


Attorney(s) appearing for the Case

Waterford Township Police & Fire Retirement System, Lead Plaintiff, represented by Avital Orly Malina , Robbins Geller Rudman & Dowd LLP, Joseph Frank Russello , Robbins Geller Rudman & Dowd LLP, Mary Katherine Blasy , Robbins Geller Rudman & Dowd LLP & Samuel Howard Rudman , Robbins Geller Rudman & Dowd LLP.

Waterford Township Police & Fire Retirement System, Lead Plaintiff, represented by David Avi Rosenfeld , Robbins Geller Rudman & Dowd LLP & Joseph Frank Russello , Robbins Geller Rudman & Dowd LLP.

City of Roseville Employees' Retirement System, Lead Plaintiff, represented by Avital Orly Malina , Robbins Geller Rudman & Dowd LLP, David Avi Rosenfeld , Robbins Geller Rudman & Dowd LLP, Joseph Frank Russello , Robbins Geller Rudman & Dowd LLP, Mary Katherine Blasy , Robbins Geller Rudman & Dowd LLP & Samuel Howard Rudman , Robbins Geller Rudman & Dowd LLP.

Regional Management Corp., Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Palladium Equity Partners III, L.P., Defendant, represented by Anar Rathod Patel , Simpson Thacher & Bartlett LLP, George S Wang , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Palladium Equity Partners III, L.L.C., Defendant, represented by Anar Rathod Patel , Simpson Thacher & Bartlett LLP, George S Wang , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Parallel 2005 Equity Fund, LP, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Parallel 2005 Equity Partners, LP, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Thomas F. Fortin, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

C. Glynn Quattlebaum, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Donald E. Thomas, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

David Perez, Defendant, represented by Anar Rathod Patel , Simpson Thacher & Bartlett LLP, George S Wang , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Roel C. Campos, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Richard T. Dell'Aquila, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Richard A. Godley, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Jared L. Johnson, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Alvaro G. De Molina, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Carlos Palomares, Defendant, represented by George S Wang , Simpson Thacher & Bartlett LLP, Anar Rathod Patel , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Erik A. Scott, Defendant, represented by Anar Rathod Patel , Simpson Thacher & Bartlett LLP, George S Wang , Simpson Thacher & Bartlett LLP & Shannon Kyle McGovern , Simpson Thacher & Bartlett LLP.

Stephens Inc., Defendant, represented by Joseph Gerard Tully , Alston & Bird, LLP & Jessica Perry Corley , Alston & Bird LLP.

Keefe, Bruyette & Woods, Inc., Defendant, represented by Joseph Gerard Tully , Alston & Bird, LLP & Jessica Perry Corley , Alston & Bird LLP.

BMO Capital Markets Corp., Defendant, represented by Joseph Gerard Tully , Alston & Bird, LLP & Jessica Perry Corley , Alston & Bird LLP.

JMP Securities LLC., Defendant, represented by Joseph Gerard Tully , Alston & Bird, LLP & Jessica Perry Corley , Alston & Bird LLP.

FBR Capital Markets & Co., Defendant, represented by Joseph Gerard Tully , Alston & Bird, LLP & Jessica Perry Corley , Alston & Bird LLP.


OPINION AND ORDER

Lead Plaintiff Waterford Township Police & Fire Retirement System ("Lead Plaintiff") brings this action on behalf of a putative class of investors ("Plaintiffs") who purchased publicly traded securities issued by Regional Management Corp. ("RM" or the "Company"), between May 2,...

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