Legal Opinion
San Leandro Emergency Medical Group Profit Sharing Plan v. Philip Morris Companies, Inc.
Court of Appeals for the Second Circuit
Decided January 25, 1996No. 97, Docket 95-7156PublishedCited by 552 opinions
1Opinion of the Court
JON O. NEWMAN, Chief Judge:
This appeal concerns the recurring issue of whether a complaint alleging securities fraud is sufficient to survive a motion to dismiss. More precisely, the issue is whether, under the circumstances of this case, a company has a duty to disclose its consideration of an alternative business plan in order to prevent its prior statements from becoming misleading. The issue arises on an appeal by members of a plaintiff class of shareholders who bought stock in Philip Morris Companies Inc. (“Philip Morris”) at an allegedly inflated price during a portion of 1993. They…
2Cases cited29 opinions
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Sarah B. Shields, Individually and as Representative of All Others Similarly Situated v. Citytrust Bancorp, Inc., George F. Taylor and Irwin EngelmanCourt of Appeals for the Second Circuit · 1994
- Acito v. IMCERA Group, Inc.Court of Appeals for the Second Circuit · 1995
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3Cited by552 opinions
- In Re Burlington Coat Factory Securities Litigation. P. Gregory Buchanan, Jacob Turner and Ronald AbramoffCourt of Appeals for the Third Circuit · 1997
- Yourish v. California AmplifierCourt of Appeals for the Ninth Circuit · 1999
- Shaw v. Digital Equipment Corp.Court of Appeals for the First Circuit · 1996
- In Re Silicon Graphics Inc. Securities Litigation. Edmund J. Janas v. Edward R. McCracken Michael Ramsay Robert K. Burgess Thomas J. Oswald Teruyasu Sekimoto Forest Baskett Stephen Goggiano William M. Kelly Lucille Shapiro Silicon Graphics, Inc., Deanna Brody Andrea S. Donald Israel Buck Ruth Buck Denise Struthers Thomas G. Di Cicco Ira Steven B. Ewall Rosalyn Golaine Jerry Krim Mary Anne Beke Herman Grossman Samuel J. Reiner Dennis Lucas v. Edward R. McCracken Michael Ramsay Robert K. Burgess Thomas J. Oswald Teruyasu Sekimoto Forest Baskett Stephen Goggiano William M. Kelly Lucille Shapiro Silicon Graphics, Inc.Court of Appeals for the Ninth Circuit · 1999
- Rothman v. GregorCourt of Appeals for the Second Circuit · 2000
547 more not listed; retrieve them via the Exa API.