As expected, the plaintiffs’ lead counsel has formally moved to certify a rather large plaintiffs’ class of putative federal securities fraud victims, related to the Summer 2012 IPO — and aftermarket trading — in legacy Textura. That federal case has been pending here in Chicago for a bit now.
The central core of the fraud allegations is one that sounds against the former CEO (and quite personally, too): that he affirmatively attempted to mislead, by omission, in his narrative text of his bio in the IPO prospectus.
That would be Patrick J. Allin. And, here’s the 32 page PDF memo of law, on it all — just filed this afternoon.
Now you know. we will keep you posted.