United States Sixth Circuit

Securities fraud claims brought by investors in the stock of Intrenet, Inc. were properly dismissed. Plaintiffs fail to meet the standards for pleading scienter on the part of the individual defendants, and their complaint fails to state an underlying securities law violation by a controlled person.

Appellate Information

• Argued 12/12/2003
• Decided 04/20/2004
• Published 04/20/2004

Judges

• Before: COLE and CLAY, Circuit Judges;  QUIST, District Judge.

Court

• United States Sixth Circuit

Counsel

• For Appellant:
  
• Richard S. Wayne (briefed), William R. Jacobs (argued), Strauss & Troy, Cincinnati, OH, for Plaintiffs-Appellants.


• For Appellees:
  
• Robert A. Pitcairn, Jr. (argued and briefed), Katz, Teller, Brant & Hild, Cincinnati, OH, Robert N. Hochman (argued and briefed), Jeffrey R. Tone (briefed), Jeffrey C. Sharer (briefed), Sidley, Austin, Brown & Wood, Chicago, IL, Stephen J. Butler, Thompson Hine, Cincinnati, OH, James H. Ham, III, Baker & Daniels, Indianapolis, IN, for Defendants-Appellees.