United States First Circuit

Rule 12(b)(6) dismissal of plaintiff's securities fraud complaint alleging losses resulting from false and misleading statements made by defendant's analysts as to certain stock is affirmed where plaintiffs' allegations were insufficient to show that defendant's reports were at odds with the analysts' privately held beliefs.

Appellate Information

• Decided 12/12/2005
• Published 12/12/2005

Judges

• SELYA, Circuit Judge., Before SELYA and LYNCH, Circuit Judges, and SMITH, District Judge.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Brian P. Murray, with whom Murray, Frank & Sailler LLP, Marc I. Gross, Pomerantz Haudek Block Grossman & Gross LLP, David Pastor, and Gilman and Pastor LLP were on brief, for appellants.


• For Appellees:
  
• Lawrence Portnoy, with whom Davis Polk & Wardwell, Robert A. Buhlman, Siobhan E. Mee, and Bingham McCutcheon LLP were on brief, for appellee Credit Suisse First Boston LLC., Warren Feldman, Jeff E. Butler and Clifford Chance LLP on brief for appellee Rogers., Jeffrey B. Rudman, with whom Stephen A. Jonas, Jonathan A. Shapiro, Matthew A. Stowe, Wilmer Cutler Pickering Hale and Dorr LLP, Kenneth G. Hausman, Barbara A. Winters, Mark A. Sheft, and Howard Rice Nemerovski Canady Falk & Rabkin were on brief, for appellee Quattrone.