(Download) "In re Time Warner" by United States Court of Appeals for the Second Circuit ~ Book PDF Kindle ePub Free
eBook details
- Title: In re Time Warner
- Author : United States Court of Appeals for the Second Circuit
- Release Date : January 30, 1993
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 73 KB
Description
This appeal from the dismissal of a securities fraud complaint requires us to consider the recurring issue of whether stock fraud claims are sufficiently pleaded to warrant at least discovery and perhaps trial. Three separate issues are presented: (1) whether a corporation has a duty to update somewhat optimistic predictions about achieving a business plan when it appears that the plan might not be realized, (2) whether a corporation has a duty to disclose a specific alternative to an announced business plan when that alternative is under active consideration, and (3) whether a corporation is responsible for statements in newspapers and security analyst reports that are attributed to unnamed corporate personnel. These issues arise on an appeal by plaintiffs ZVI Trading Corporation Employees Money Purchase Pension Plan and Trust and Barry Zolon from the June 1, 1992, order of the District Court for the Southern District of New York (Morris E. Lasker, Judge) dismissing plaintiffs complaint, 794 F. Supp. 1252 (S.D.N.Y. 1992), and the July 16, 1992, order denying plaintiffs motion for reconsideration.
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