FirstMerit "Ponzi Scheme" Case Update: Class Certification Hearing Canceled

In our case against First Merit Bank, we are asking the Court to certify as a class of plaintiffs  the victims of Joanne Schneider’s promissory note ponzi scheme. A hearing on this issue was to have been held before the Hon. Judge Christopher A. Boyco of the U.S. District Court for the Northern District of Ohio on Thursday, October 2 at 2 pm. This hearing was canceled on Thursday morning.  After reviewing all of the court papers, the Court determined that there is a  preliminary issue which must be decided before it can proceed to decide whether or not to certify our class.

Many of Joanne Schneider’s victims were planning to attend the class certification hearing on Thursday. We have done our best to alert everybody of the cancellation, but probably did not get to everybody.  For those of you who made the trip downtown for nothing, please accept our sincere apologies. 

We will continue to update the plaintiffs with new developments in this case.