United States Second Circuit

Securities claims based on insider trading should have been recharacterized as motions to vacate a bankruptcy judgment and reopen the proceedings based on fraud, pursuant to FRCP 60(b)(3), where the fraud could not have been discovered through due diligence until the bankruptcy order was final.

Appellate Information

• Argued 01/03/2002
• Decided 05/23/2002
• Published 05/23/2002

Judges

• KATZMANN, Circuit Judge., Before: FEINBERG and KATZMANN, Circuit Judges, and GLEESON, District Judge.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• John W. Bailey (Rebecca A. Slezak, on the brief), Ainsworth, Sullivan, Tracy, Knauf, Warner, and Ruslander, P.C., Albany, NY, for Plaintiffs-Appellants.


• For Appellees:
  
• George F. Carpinello, Boies, Schiller & Flexner LLP, Albany, NY (Brian F. Mumford, Harvey & Mumford, Albany, NY, on the brief;  Toni C. Lichstein, Douglas W. Henkin, Milbank, Tweed, Hadley & McCloy LLP, New York, NY, on the brief), for Defendants-Appellees.