The defendant in this matter, a large financial institution, engaged Brattle to analyze whether reasonable basis suitability and alleged associated damages were class-wide issues across a putative class of investors. Brattle examined the structure, governance, performance, and other attributes of several closed-end funds that invested primarily in securities issued by Puerto Rico. Our team performed a range of analyses related to class certification at the fund-level of the investment risk and return profile, disclosures, and performance reporting and attribution. Using these fund-level analyses, Brattle successfully established that there was no class-wide suitability failure and that damages could not be properly calculated on a class-wide level, resulting in a denial of class certification.