United States Third Circuit

Dismissal of plaintiff-shareholders' suit, alleging defendant made false or misleading statements in violation of the Securities Act, is reversed where defendant's failure to mention that unauthorized retailers were selling its golf equipment was a material omission.

Appellate Information

• Argued 05/25/2004
• Decided 08/25/2004
• Published 08/25/2004

Judges

• RENDELL, Circuit Judge., Before SCIRICA, Chief Judge, RENDELL and ALARCÓN, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Elizabeth W. Fox, Todd S. Collins [Argued], Berger & Montague, Philadelphia, PA, for Appellants.


• For Appellees:
  
• Kevin G. Abrams, Richards, Layton & Finger, Wilmington, DE, Michael J. Biles, Jennifer R. Brannen, Jesse Z. Weiss, Paul R. Bessette [Argued], Kevin G. Abrams, Akin, Gump, Strauss, Hauer & Feld, Austin, TX, for Appellees Adams Golf Inc., B.H. Adams, Richard H. Murtland, Darl P. Hatfield, Paul F. Brown, Jr. Roland E. Casati, Finis F. Conner, and Stephen R. Patchin., Robert K. Payson, Potter, Anderson & Corroon, Wilmington, DE, Michael J. Chepiga [Argued], Simpson, Thacher & Bartlett, New York, NY, for Appellees Lehman Bros. Holdings, Banc of America Securities LLC, and Ferris Baker Watts.