United States First Circuit
Automotive Industries Pension Fund v. Textron, Inc., 11-2106
In a securities fraud class action against an aircraft company and several of its senior officers for misleading public statements related to the strength and depth of the backlog of orders at Cessna, the District Court's grant of Fed. R. Civ. P. 12(b)(6) motion to dismiss is affirmed where the complaint fails adequately to allege scienter as required by Section 10(b).
Appellate Information
- Decided 06/07/2012
- Published 06/07/2012
Judges
- Boudin
Court
- United States First Circuit