Legal Opinion
In Re Aetna, Inc. Securities Litigation
Court of Appeals for the Third Circuit
Decided August 11, 2010No. 09-2970PublishedCited by 85 opinions
1Opinion of the Court
OPINION
ROTH, Circuit Judge:
Plaintiff shareholders appeal the District Court’s order dismissing this securities fraud class action under the Private Securities Litigation Reform Act, 15 U.S.C. § 78u-5(c)(1), which contains a safe harbor for forward-looking statements. We find the alleged misrepresentations which form the basis of plaintiffs’ claims are protected by the safe harbor because they are forward-looking and immaterial as a matter of law. We will therefore affirm the order of the District Court.
1. Factual and Procedural Background
Lead plaintiff Varma Mutual Pension Insurance Company…
2Cases cited14 opinions
- Tellabs, Inc. v. Makor Issues & Rights, Ltd.Supreme Court of the United States · 2007
- In Re Burlington Coat Factory Securities Litigation. P. Gregory Buchanan, Jacob Turner and Ronald AbramoffCourt of Appeals for the Third Circuit · 1997
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Dura Pharmaceuticals, Inc. v. BroudoSupreme Court of the United States · 2005
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3Cited by85 opinions
- Janus Capital Group, Inc. v. First Derivative TradersSupreme Court of the United States · 2011
- City of Edinburgh Council as A v. Pfizer IncCourt of Appeals for the Third Circuit · 2014
- Lori Anderson v. K-V Pharmaceutical CompanyCourt of Appeals for the Eighth Circuit · 2015
- In re Egalet Corp.District Court, E.D. Pennsylvania · 2018
- In re Urban Outfitters, Inc. Securities LitigationDistrict Court, E.D. Pennsylvania · 2015
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