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Wednesday, January 25, 2006
Ind. Decisions - 7th Circuit posts four today, two civil and two criminal sentencing
None of the cases were Indiana-based.
In Makor Issues & Right v Tellabs Inc., Judge Wood's opinion begins:
WOOD, Circuit Judge. This class action against Tellabs, Inc., a manufacturer of specialized equipment used in fiber optic cable networks, presents the first opportunity for this court to address the heightened pleading requirements of the Private Securities Litigation Reform Act of 1995 (PSLRA), 15 U.S.C. § 78u-4(b). The plaintiffs have accused Tellabs and its executives of engaging in a scheme to deceive the investing public about the true value of Tellabs’s stock. The district court dismissed the plaintiffs’ second amended complaint, pursuant to Federal Rule of Civil Procedure 12(b)(6), after finding that the plaintiffs had failed to meet the PSLRA’s pleading threshold. We affirm in part and reverse in part.
Posted by Marcia Oddi on January 25, 2006 01:15 PM
Posted to Ind. (7th Cir.) Decisions