Winer Family Trust v. Queen
Court of Appeals for the Third Circuit
1Opinion of the Court
OPINION OF THE COURT
SCIRICA, Chief Judge.
At issue in this private securities fraud class action is whether plaintiffs properly pleaded false and misleading statements and material omissions on the company’s earnings potential and stock value, in violation of the Securities and Exchange Act of 1934. The District Court granted defendants’ motions to dismiss for failure to meet the pleading requirements of the Private Securities Litigation Reform Act of 1995,15 U.S.C. § 78u-4 et seq (“PSLRA”). While this appeal was pending, the Supreme Court set forth the pleading standard for the PSLRA.…
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