Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Fannon v. Guidant Corp.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
ARGUED JANUARY 16, 2009

Before BAUER, FLAUM and WOOD, Circuit Judges.

This case involves the claims of a plaintiff class that believes the defendant corporation defrauded them. The class asserts that the corporation knew that it had flawed products, but in the face of that knowledge made false or misleading public statements about the products and about a pending merger. In addition, the plaintiffs charge, the individual defendants sold nearly $89 million in company stock during the period covered by the class’s allegations. The district court dismissed the case on the pleadings with prejudice, concluding that the class complaint failed to raise the strong inference of scienter required by the Private Securities Litigation Reform Act (“PSLRA”) and Rule 9 of the Federal Rules of Civil Procedure. The court also rejected the plaintiffs’ motion under FED. R. CIV. P. 59(e) to reconsider based on newly discovered evidence, and their related motion under FED. R. CIV. P. 15(a) to amend their complaint.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
General Counsel Conference Southwest 2024
September 18, 2024 - September 19, 2024
Dallas, TX

Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies


Learn More
Texas Legal Awards 2024
October 15, 2024
Dallas, TX

The Texas Lawyer honors attorneys and judges who have made a remarkable difference in the legal profession in Texas.


Learn More
General Counsel Conference Midwest: SuperConference 2025
April 08, 2025 - April 09, 2025
Chicago, IL

Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies


Learn More
Go to Events Go to Webcasts
Juvenile Dependency Attorney II/III/IV

RECRUITMENT BONUS Newly hired employees from this recruitment may be eligible to receive bonus payments up to $3,000!* FLEXIBLE SCHEDULE: ...


Apply Now ›
Litigation Counsel - Multiple Offices

Morristown, NJ; New York, NY Description: Fox Rothschild has an opening in multiple offices for a Counsel in our Litigation Department. The ...


Apply Now ›
Deputy Chief Attorney

The Forest Preserves of Cook CountyIs seeking applicants forDeputy Chief Attorney The Forest Preserves of Cook County is seeking a detail-o...


Apply Now ›
Go to Lawjobs
Lawyers of Distinction
06/27/2024
The American Lawyer

Professional Announcement


View Announcement ›
SMGQ Law
06/21/2024
Daily Business Review

Full Page Announcement


View Announcement ›
Go to Professional Announcements