Because the claims under �� 11 and 12(a)(2) of the Securities Act of 1933 were expressly negligence-based and were pleaded distinctly from the fraud-based claims, it was error for the District Court to hold that they "sound in fraud," and the dismissal of these claims pursuant to Fed. R. Civ. P. 9(b) is vacated.
March 06, 2006 at 12:00 AM
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