CITY OF CAMBRIDGE RETIREMENT v. ALTISOURCE ASSET

No. 17-2471.

908 F.3d 872 (2018)

CITY OF CAMBRIDGE RETIREMENT SYSTEM, On behalf of itself and all others similarly situated, et al. v. ALTISOURCE ASSET MANAGEMENT CORP; William C. Erbey; Kenneth Najour; Ashish Pandey; Robin Lowe, Denver Employee Retirement Plan, Appellant.

United States Court of Appeals, Third Circuit.

Filed: November 14, 2018.


Attorney(s) appearing for the Case

Steve W. Berman, Esq. , Hagens Berman Sobol Shapiro, 1301 2nd Avenue, Suite 2000, Seattle, WA 98101, Vincent A. Colianni, II, Esq. , Colianni & Colianni, 1138 King Street, Christiansted, VI 00820, Kevin K. Green, Esq. [ARGUED], Hagens Berman Sobol Shapiro, 533 F Street, Suite 207, San Diego, CA 92101, Counsel for Appellant.

Walter C. Carlson, Esq. [ARGUED], Sidley Austin, One South Dearborn Street, Chicago, IL 60603, Chad C. Messier, Esq. , Dudley Topper & Feuerzeig, 1000 Frederiksberg Gade, P.O. Box 756, St. Thomas, VI 00804, David S. Petron, Esq. , Sidley Austin, 1501 K Street, N.W., Washington, DC 20005, Counsel for Appellee Altisource Asset Management Corp.

John L. Hardiman, Esq. , Julia A. Malkina, Esq. , Sullivan & Cromwell, 125 Broad Street, New York, NY 10004, Counsel for Appellee William C. Erbey.

Before: KRAUSE, ROTH and FISHER, Circuit Judges.


OPINION OF THE COURT

Commenting on the economic calamity that was the South Sea Bubble — in which he lost a considerable fortune — Sir Isaac Newton is said to have remarked, "I can calculate the motions of the heavenly bodies, but not the madness of the people."1 Throughout...

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