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PECARSKY v. GALAXIWORLD.COM LTD.

Nos. 00-7287(LEAD), 00-7295(CON), and 00-7655(CON).

249 F.3d 167 (2001)

David PECARSKY and Overall Supply, Inc. on behalf of themselves and all others, Plaintiffs-Appellees, v. GALAXIWORLD.COM LIMITED, formerly known as Gaming Lottery Corporation and Jack Banks, also known as Jacques Benquesus, Defendants-Appellants, Larry WELTMAN, Defendant.

United States Court of Appeals, Second Circuit. August Term, 2000.

Decided May 10, 2001.

Errata Filed July 13, 2001.

Attorney(s) appearing for the Case

Sheldon Eisenberger, The Law Office of Sheldon Eisenberger, New York, NY, for Defendants-Appellants.

Deborah Clark-Weintraub, Francis P. Karam, Milberg Weiss Bershad Hynes & Lerach LLP; Lester L. Levy, Robert C. Finkel, Wolf Popper LLP, New York, NY, for Plaintiffs-Appellees.

Before CARDAMONE, PARKER, and KATZMANN, Circuit Judges.

PARKER, Circuit Judge:

I. INTRODUCTION

On this appeal we must determine if the district court abused its discretion in this class action when it entered a default judgment against Galaxiworld in the amount of $22,084,844. In their original complaint, appellees claimed that Jack Banks ("Banks"), Larry Weltman ("Weltman"), and Galaxiworld committed fraud by making a series of material misrepresentations about Galaxiworld's acquisition and operation of a gambling...

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