United States Seventh Circuit

In a suit alleging securities fraud, dismissal of the suit is reversed and remanded after a remand from the Supreme Court in order to determine whether the plaintiffs' allegations created the "strong inference" of scienter as defined by the Supreme Court in its opinion in the case at 127 S. Ct. 2499 (2007). The circuit court finds that the plaintiffs succeeded in pleading scienter in conformity with the requirements of the Private Securities Litigation Reform Act with regard to statements that were adequately alleged to be false and material.

Appellate Information

• Argued 11/01/2007
• Decided 01/17/2008
• Published 01/17/2008

Judges

• POSNER, Circuit Judge., Before POSNER, WOOD, and SYKES, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• Richard H. Weiss (argued), Milberg Weiss, New York, NY, Arthur R. Miller, Harvard Law School, Cambridge, MA, Marvin A. Miller, Matthew E. Van Tine, Lori A. Fanning, Miller Law, Chicago, IL, for Plaintiffs-Appellants.


• For Appellees:
  
• David F. Graham (argued), Sidley Austin, Chicago, IL, for Defendants-Appellees.