United States Seventh Circuit
GALLAGHER v. ABBOTT LABS., 01-1473; 01-1477
Because there is no absolute duty to disclose information material to stock prices as soon as news comes into a company's possession, securities class action plaintiffs must identify a false statement or a truthful statement made misleading by the omission of information.
Appellate Information
- Decided 10/17/2001
- Published 10/17/2001
Judges
- EASTERBROOK, Circuit Judge., Before POSNER, EASTERBROOK, and KANNE, Circuit Judges.
Court
- United States Seventh Circuit
Counsel
- For Appellant:
- Edwin J. Mills (argued), Stull, Stull & Brody, New York, NY, Marvin A. Miller, Miller, Faucher & Cafferty, Chicago, IL, for Plaintiff-Appellant in No. 01-1473., Edwin J. Mills, Stull, Stull & Brody, New York, NY, Carol V. Gilden, Much, Shelist, Freed, Denenberg, Ament & Rubenstein, Chicago, IL, for Plaintiffs-Appellants in No. 01-1477.
- For Appellees:
- Michele Odorizzi (argued), Mayer, Brown & Platt, Chicago, IL, for Defendants-Appellees in No. 01-1473., Thomas M. Durkin, Mayer, Brown & Platt, Chicago, IL, for Defendants-Appellees in No. 01-1477.