Section 10(b) Interrogatories
(Defendant to Plaintiff)

Summary

This template is a model set of interrogatories that defendants may use in securities fraud lawsuits brought by private plaintiffs alleging claim(s) under Section 10(b) of the Securities Exchange Act of 1934. This template assumes that the interrogatories are being served on behalf of at least one business entity defendant. This template includes practical guidance, drafting notes, and optional clauses. The lead plaintiff will possess, and is obligated to produce, material that is relevant to class-related issues and defenses as well as the class representative and class counsel relationship (e.g., class representative adequacy and typicality, potential conflicts of interest), that are the subject of proper discovery requests. Damages and expert-related discovery, as well as discovery into the legal and factual bases for Plaintiffs alleged causes of action, are also common. Therefore, many of the interrogatories in this model focus on those topics. Unless otherwise stipulated or ordered by the court, a party in federal court may only serve 25 interrogatories to another party (including all discrete subparts). Fed. R. Civ. P. 33(a)(1). What counts as a "discrete subpart" is not defined by Rule 33 of the Federal Rules of Civil Procedure (FRCP); accordingly, counsel should review local rules, district court decisions, and standing orders issued by the court for guidance on how subparts are treated in their district. Counsel should also carefully review any local rules that control the format of the interrogatories. Due to the limited number of available interrogatories, counsel should carefully consider the purpose that each interrogatory serves, how the interrogatories fit within the case's overarching discovery strategy and the required disclosures under FRCP 26, and whether other available discovery methods (e.g., requests for production or depositions) may be useful in acquiring the desired information. The interrogatories below are drafted to address common discovery needs in securities fraud lawsuits brought by private plaintiffs alleging claims under Section 10(b). Some of the interrogatories below are "contention interrogatories" under FRCP 33(a)(2); that is, these interrogatories ask for an opinion or contention of the responding party that relates to fact or the application of law to fact. The court may order that such contention interrogatories need not be answered until a pre-trial conference or later in discovery. Fed. R. Civ. P. 33(a)(2). Counsel should also consult local rules and standing orders issued by the court to determine whether service of contention interrogatories should be deferred until later stages of the discovery process. In addition to FRCP 26 and FRCP 33, counsel should review all relevant local rules and standing orders concerning the content and timing of serving interrogatories. Counsel should also consider whether any follow-up interrogatories should be reserved to serve the respondent later in discovery. Finally, counsel should consider whether respondent would have enough information available to answer each interrogatory (especially contention interrogatories) at the time it is served and, if not, whether to delay service of such interrogatories until later in discovery. Note, however, that counsel should serve interrogatories no later than 30 days before the close of discovery (or 33 days, if mailed) so that the respondent's deadline to respond is within the discovery period. For another template relating to discovery requests, see Section 10(b) Requests for the Production of Documents (Defendant to Plaintiff). For more information relating to Section 10(b) claims, see Reliance in Securities Fraud Actions, Materiality in Securities Fraud Actions, and Liability for Securities Offerings Checklist.