Legal Opinion
Fine v. American Solar King Corp.
Court of Appeals for the Fifth Circuit
Decided December 4, 1990No. Nos. 89-1218, 89-1290PublishedCited by 48 opinions
1Opinion of the Court
KING, Circuit Judge:
Plaintiffs-appellants (Plaintiffs) allege that the accounting firm of Main Hurdman violated § 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by issuing a materially false and misleading qualified report on American Solar King’s (ASK) financial statement for fiscal year 1982. The district court found that the Plaintiffs failed to raise a genuine issue of material fact on the elements of scienter and reliance and granted summary judgment in favor of Main Hurd-man. We reverse.
I. BACKGROUND
ASK manufactured collectors for the solar heating of…
2Cases cited23 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- United States v. Diebold, Inc.Supreme Court of the United States · 1962
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
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3Cited by48 opinions
- In Re Worlds Of Wonder Securities LitigationCourt of Appeals for the Ninth Circuit · 1994
- In Re: Comshare, Incorporated Securities Litigation. Harry M. Hoffman v. Comshare, Inc.Court of Appeals for the Sixth Circuit · 1999
- Abrams v. Baker Hughes Inc.Court of Appeals for the Fifth Circuit · 2002
- Malone v. Microdyne Corp.Court of Appeals for the Fourth Circuit · 1994
- In Re Enron Corp. Securities, Derivative & ERISA Lit.District Court, S.D. Texas · 2002
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