Berner v. Lazzaro

ALARCON, Circuit Judge;

Appellants seek a reversal of the judgment of the district court granting appellees’ motion to dismiss the complaint pursuant to Federal Rule of Civil Proce*1320dure 12(b).1 The trial court determined that the application of the in pan delicto doctrine barred appellants from any right to recovery. Because we feel that securities professionals and corporate officers who have allegedly engaged in fraud should not be permitted to invoke the in pan delicto doctrine to shield themselves from the consequences of their fraudulent misrepresentation, we reverse and remand for a trial…