United States Third Circuit

Shareholders failed to meet the heightened pleading requirements of securities fraud actions set forth in FRCP 9(b) and the Private Securities Litigation Reform Act, in claims arising from allegedly fraudulent omissions from a proxy statement.

Appellate Information

• Argued 01/17/2002
• Decided 11/08/2002
• Published 11/08/2002

Judges

• Before: RENDELL, FUENTES, and MAGILL, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Michael D. Donovan (argued), Donovan Searles, LLC, Philadelphia, PA, for Appellants., Pamela S. Tikellis, Chimicles & Tikellis, LLP, Wilmington, DE, for Appellants., James R. Malone, Jr., Chimicles & Tikellis, LLP, Haverford, PA, for Appellants., Ann Miller, Philadelphia, PA, for Appellants.


• For Appellees:
  
• Max Gitter (argued), Cleary Gottlieb Steen & Hamilton, New York, NY, for Appellees, Goldman Sachs Mortgage Co., Goldman Sachs Group LP, Goldman Sachs & Co., Whitehall, Street RealEstate Limited, Partnership V, WH Advisors, Inc., WH Advisors LP V, and Daniel M. Neidich., Richard A. Rosen, Robert N. Kravitz, Paul, Weiss, Rifkind, Wharton & Garrison, New York, NY, for Appellees, Goldman Sachs Mortgage Co., Goldman Sachs Group LP, Goldman Sachs & Co., Whitehall, Street RealEstate Limited, Partnership V, WH Advisors, Inc., WH Advisors LP V, and Daniel M. Neidich., Robert K. Payson, Potter Anderson & Corroon LLP, Wilmington, DE, for Appellees, Peter D. Linneman and Richard M. Scarlata., Russell E. Brooks, Milbank, Tweed, Hadley & McCloy, New York, NY, for Appellee, David Rockefeller., Richard D. Allen, Morris, Nichols, Arsht & Tunnell, Wilmington, DE, for Appellee, David Rockefeller.