United States Second Circuit

Dismissal of complaints alleging, among other things, securities fraud in violation of section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 is affirmed where: 1) allegations of market manipulation are inadequate under Rule 9(b), Fed. R. Civ. P.; 2) plaintiff's misrepresentation claims are either barred by merger clauses or are deficient; 3) plaintiff fails to allege any primary violation and, thus, cannot establish control person liability; and 4) the district court did not abuse its discretion in declining to grant further leave to amend.

Appellate Information

• Decided 07/11/2007
• Published 07/11/2007

Judges

• JOHN M. WALKER, JR., Circuit Judge:, Before:  JACOBS, Chief Judge, WALKER and RAGGI, Circuit Judges.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Thomas I. Sheridan III (Andrea Bierstein, Melissa C. Welch, on the brief), Hanly Conroy Bierstein & Sheridan LLP, New York, NY, for ATSI Communications, Inc., Jonathan M. Sperling (Amanda J. Gourdine, on the brief), Covington & Burling, New York, NY, for The Shaar Fund, Ltd., Shaar Advisory Services, N.V., Levinson Capital Management, Sam Levinson, and Uri Wolfson., J. Kevin McCarthy (Joanne L. Monteavaro, on the brief), Wilmer Cutler Pickering Hale and Door LLP, New York, NY, for Rose Glen Capital Management, L.P., RGC International Investors, LDC, Wayne Bloch, Gary Kaminsky, and Steven Katznelson., David G. Cabrales (W. Scott Hastings, Jeffrey A. Logan, on the brief), Locke Liddell & Sapp LLP, Dallas, TX;  Cahill Gordon & Reindel LLP (Thorn Rosenthal, Janet A. Beer, on the brief), New York, NY, for Trimark Securities, Inc., Michael J. Dell (Elaine Golin, on the brief), Kramer Levin Naftalis & Frankel LLP, New York, NY, for Citco Fund Services (Curaçao) N.V., InterCaribbean Services, Ltd., Hugo van Neutegem, Wim Langeveld, Luc Hollman, and Declan Quilligan., Berkman, Henoch, Peterson & Peddy, P.C. (Ronald M. Terenzi, on the brief), Garden City, NY, for Corporate Capital Management.