United States Second Circuit

In a securities action, district court's grant of summary judgment in favor of the defendants is vacated and remanded as triable questions of fact exist as to whether defendant acted with scienter in making alleged misrepresentations in it audit opinion letter of its client Winstar Communications, Inc., whether plaintiffs purchased Winstar stock in actual reliance on those representations, and whether plaintiffs suffered losses as result.

Appellate Information

• Decided 07/19/2012
• Published 07/19/2012

Judges

• Lohier

Court

• United States Second Circuit

Counsel