United States First Circuit

In a securities class action wherein plaintiff alleged that a company's executives withheld material information about problems concerning a recalled product, the drug-eluting TAXUS coronary stent, and made misleading positive statements in violation of section 10(b) and 20(a) of the Securities Exchange Act, grant of defendants' motion to dismiss is reversed and remanded where plaintiff sufficiently pled claims to withstand a motion to dismiss under the standards recently articulated in Tellabs, Inc. v. Makor Issues & Rights, Ltd., 127 S. Ct. 2499 (2007), and ACA Fin. Guar. Corp. v. Advest, Inc., 512 F.3d 46 (2008).

Appellate Information

• Decided 04/16/2008
• Published 04/16/2008

Judges

• LYNCH, Circuit Judge., Before TORRUELLA, Circuit Judge, TASHIMA, Senior Circuit Judge, and LYNCH, Circuit Judge.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Carolyn G. Anderson with whom Timothy J. Becker, Anne T. Regan, Zimmerman Reed, P.L.L.P., David S. Nalven, Steve Berman, Hagens Berman Sobol Shapiro, LLP, Richard A. Lockridge, Gregg M. Fishbein, Lockridge Grindal Nauen, P.L.L.P., Mike Moore, and Moore Law Firm were on brief for appellant.


• For Appellees:
  
• Stuart J. Baskin with whom John Gueli, Kirsten M. Nelson, Shearman & Sterling LLP, William H. Paine, Timothy J. Perla, and Wilmer Cutler Pickering Hale & Dorr LLP were on brief for defendants.