United States First Circuit

Dismissal of action alleging that Tyco did not adequately clean up its books in the wake of a major corporate scandal, and that new management perpetuated a fraud in the accounting for one of the company's largest subsidiaries, is affirmed where the amended class action complaint did not adequately allege scienter under the Private Securities Litigation Reform Act.

Appellate Information

• Decided 09/27/2006
• Published 09/27/2006

Judges

• HOWARD, Circuit Judge., Before SELYA, LIPEZ, and HOWARD, Circuit Judges.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Kenneth J. Vianale, with whom Vianale & Vianale LLP, Biron L. Bedard and Cook & Molan, P.A. were on brief, for appellants.


• For Appellees:
  
• Francis P. Barron, with whom Stephen S. Madsen, Cravath, Swaine & Moore LLP, Edward A. Haffer and Sheehan, Phinney, Bass & Green, were on brief for appellees, Tyco International LTD., Edward D. Breen and David J. Fitzpatrick., Michael P. Carroll, with whom Michael S. Flynn, Davis Polk & Wardwell, Arnold Rosenblatt, Cook, Little, Rosenblatt & Manson, P.L.L.C., Christian M. Hoffman, Lisa C. Wood and Foley Hoag LLP were on brief, for appellee PricewaterhouseCoopers LLP.