United States DC Circuit
In re: Interbank Funding Corp. Sec. Litig., 09-7167
In an action by purchasers of securities of InterBank Funding Corporation, claiming that they relied on materially false misrepresentations and omissions by Interbank's auditor, the denial of plaintiffs' motion for leave to amend their complaint is affirmed where, because, as plaintiffs conceded, the Affiliated Ute presumption of reliance did not apply to affirmative misrepresentations, plaintiffs' proposed amendment to their complaint would be futile.
Appellate Information
- Decided 12/28/2010
- Published 12/28/2010
Judges
- Harry Edwards
Court
- United States DC Circuit
Counsel
- For Appellant:
- Michael G. McLellan, Michael L. Martinez