United States Eighth Circuit

In an appeal arising out of a securities fraud class action against a corporation and various officers, grant of defendants' motion to dismiss the complaint is affirmed where: 1) the district court properly found that plaintiffs did not adequately plead that certain of defendants' statements were false when made; and 2) accepting plaintiffs' allegations as true and viewing them as a whole, they did not give rise to a strong inference of scienter, and thus the district court properly found that plaintiffs did not meet the Private Securities Litigation Reform Act's (PSLRA) standard for pleading scienter.

Appellate Information

• Decided 10/16/2008
• Published 10/16/2008

Judges

• SHEPHERD, Circuit Judge., Before MURPHY, COLLOTON, and SHEPHERD, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Jill S. Abrams, argued, New York, NY (Nancy Kaboolian, Orin Kurtz, Grace E. Parasmo, Laurence D. Paskowitz and Roy L. Jacobs, New York, NY, and Joe D. Jacobson and Jonathan F. Andres, Clayton, MO, on the brief), for appellant.


• For Appellees:
  
• Walter C. Carlson, argued, Chicago, IL (Hille R. Sheppard, Jason M. Bohm, Chicago, IL, and Thomas B. Weaver, Edwin L. Noel, and Glenn E. Davis, St. Louis, MO, on the brief), for appellees.