United States Fourth Circuit

Trial court erred in dismissing plaintiff's state law securities fraud claims. The Virginia Securities Act does not require the elements of reliance and causation; nor does it require purchasers to investigate, thus the public availability of the truth did not render defendants' misrepresentations immaterial.

Appellate Information

• Argued 01/20/2004
• Decided 05/19/2004
• Published 05/19/2004

Judges

• Before NIEMEYER, KING, and DUNCAN, Circuit Judges.

Court

• United States Fourth Circuit

Counsel

• For Appellees:
  
• ARGUED:Raymond Charles Fay, Bell, Boyd & Lloyd, P.L.L.C., Washington, D.C., for Appellant.  Sally Ann Hostetler, Odin, Feldman & Pittleman, P.C., Fairfax, Virginia, for Appellees. ON BRIEF:  Andrew North Cook, Michael Jay Schrier, Bell, Boyd & Lloyd, P.L.L.C., Washington, D.C., for Appellant.  Bruce Michael Blanchard, Odin, Feldman & Pittleman, P.C., Fairfax, Virginia;  Christopher Ivan Kachouroff, Robert H. Klima & Associates, Manassas, Virginia, for Appellees.