United States Second Circuit

Plaintiffs' allegation that defendants knew, ignored, and permitted significantly increased book returns, while income that it declared in its accounting never materialized was sufficient to survive dismissal in securities fraud litigation.

Appellate Information

• Decided 06/01/2001
• Published 06/01/2001

Judges

• CARDAMONE, Circuit Judge:, Before CARDAMONE, CALABRESI, Circuit Judges, and HAIGHT, District Judge.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Jeffrey A. Klafter, New York, N.Y. (Bernstein Litowitz Berger & Grossmann, LLP;  Stephen A. Whinston, Douglas M. Risen, Berger & Montague, P.C., Philadelphia, PA, of counsel), for Appellants.


• For Appellees:
  
• Michael J. Chepiga, New York, N.Y. (Felecia L. Stern, Michael A. Berg, Simpson Thacher & Bartlett, of counsel), for Defendants-Appellees.