In re Facebook, Inc., 2012 U.S. Dist. LEXIS 144171

MDL panel transfers related Facebook IPO securities and derivative actions, plus NASDAQ-related actions, under 28 U.S.C. § 1407.
Actions are pending in Northern District of California, Southern District of New York, and elsewhere; 41 actions identified on Schedule A.
Parties seek centralized pretrial proceedings; NASDAQ defendants prefer limited coordination, not full consolidation.
Core issues involve common questions about Facebook’s stock decline and NASDAQ trading errors, with overlapping putative classes.
Panel transfers removed Northern District of California actions to SDNY, assigns to Judge Robert W. Sweet, for coordinated or consolidated pretrial handling.
SDNY is chosen as transferee due to extensive related actions and discovery in New York.

Issue	Plaintiff's Argument	Defendant's Argument	Held
Whether NASDAQ actions should be included in the MDL.	Plaintiffs urge inclusion due to common questions of fact.	NASDAQ supports limited coordination, not full consolidation.	Yes; include NASDAQ actions in the MDL for centralized proceedings.
Appropriate transferee district for pretrial proceedings.	SDNY is suitable given existing actions and discovery in New York.	Other districts could be considered; concerns about overlap.	Southern District of New York is appropriate.
Scope of coordination vs consolidation among actions.	Centralization should promote coordinated pretrial handling across actions.	Coordination should be limited due to differing defendants/claims.	Degree of coordination/consolidation rests with the transferee judge.

In re: Gerova Fin. Group, Ltd., Sec. Litig., 816 F. Supp. 2d 1381 (J.P.M.L. 2011) (coordination discretion lies with the transferee court)
In re: Tribune Co. Fraudulent Conveyance Litig., 831 F. Supp. 2d 1371 (J.P.M.L. 2011) (coordination and consolidation considerations without delaying merits)
In re Ivy, Sales Practices Litig., 901 F.2d 7 (2d Cir. 1990) (remand motions to transferee court addressed promptly)