United States First Circuit

In a suit alleging violations of federal securities laws in the offering of bonds of a college, dismissal of the complaint and denial of a post-dismissal motion to amend are affirmed where, although one of the allegations presented an arguable claim of misrepresentation as to the college's budget for financial aid spending in the 1998-1999 academic year, the pleadings were insufficient to establish the requisite scienter.

Appellate Information

• Decided 01/10/2008
• Published 01/10/2008

Judges

• LYNCH, Circuit Judge., Before LYNCH, Circuit Judge, CAMPBELL and SELYA, Senior Circuit Judges.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Michael Tabb with whom Greene & Hoffman, P.C. was on brief for appellants., Scott A. Roberts with whom Sullivan Weinstein & McQuay, P.C. was on brief for Karen Sughrue, Garry Crago, Jean Childs, Paula Edwards Cochran, G. Davis Stevens, Jr., Julia DeMoss, William R. Dill, Leslie A. Ferlazzo, Joyce Shaffer Fleming, Eric W. Hayden, Catherine Chapin Kobacher, Anne Marcus, Celeste Reid, Richard J. Sheehan, Jr., Joseph Short, Gregory E. Thomas, Susan K. Turben, and Donald W. Kiszka., Jonathan L. Kotlier with whom Nutter McClennen & Fish LLP was on brief for Advest, Inc.