United States Eighth Circuit

In a pension fund's securities fraud action against a company and six of its officers and directors, grant of defendants' motion to dismiss and denial of leave to amend the complaint are affirmed where: 1) plaintiff failed to allege that the company made any materially false or misleading statements with the specificity required by the PSLRA and thus the complaint fails to meet the falsity pleading standard; 2) as there was no error in dismissing the section 78j(b) and Rule 10b-5 claims, dismissal of plaintiff's controlling person claims was proper; and 3) plaintiff failed to show any proposed amendment would save its complaint.

Appellate Information

• Decided 08/05/2008
• Published 08/05/2008

Judges

• SMITH, Circuit Judge., Before BYE, SMITH, and COLLOTON, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Joseph D. Dailey, argued, Thomas Egler, argued, Trig R. Smith, argued, San Diego, CA, Garrett D. Blanchfield Jr., St. Paul, MN, on the brief, for Appellant.


• For Appellees:
  
• Wendy J. Wildung, argued, William Frederick Stute Jr., on the brief, Minneapolis, MN, for Appellees.