United States Second Circuit

Dismissal of plaintiff-investors' complaint alleging securities fraud in violation of Section 10(b) against one group of defendants, principally defendant Dweck, is: 1) affirmed with regard to the dismissal of the federal securities claim because only the person who communicates the misrepresentation is liable in private actions under Section 10(b); and 2) vacated and remanded on the state law fraud claim, where plaintiffs have sufficiently pleaded with particularity that Dweck provided knowing and substantial assistance in financing and facilitating the Baron fraud.

Appellate Information

• Decided 05/07/2013
• Published 05/07/2013

Judges

• WINTER

Court

• United States Second Circuit

Counsel