United States First Circuit

In a dispute that is part of the fallout from the financial system's near meltdown in the late 2000s, alleging state and federal securities fraud in connection with the sale of auction-rate securities (ARS), the district court's grant of summary judgment to bank defendants is: 1) vacated in part on the state and federal securities-fraud claims, the state negligent-misrepresentation claim, and the state unfair-business-practices claim all dealing with material omissions; and 2) affirmed in part in all other respects.

Appellate Information

• Published 2016/11/21

Judges

• THOMPSON

Court

• United States First Circuit

Counsel