(DOWNLOAD) "Roots Partnership v. Lands End Inc." by United States Court of Appeals for the Seventh Circuit # Book PDF Kindle ePub Free
eBook details
- Title: Roots Partnership v. Lands End Inc.
- Author : United States Court of Appeals for the Seventh Circuit
- Release Date : January 29, 1992
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
REYNOLDS, Senior District Judge. This case requires us to address first whether an issuers forward-looking statements of its financial goals fall within SEC Rule 175, 17 C.F.R. § 230.175 (1991), one of the "safe harbors" established by the SEC on the authority of the Securities Act of 1933, Title 15 United States Code § 77s(a); second, whether an issuers inaccurate prediction of financial performance gives rise to a viable fraud-on-the-market claim under § 10(b) of the Securities Exchange Act, when the issuers failure to achieve the predicted performance was already public knowledge prior to the plaintiffs purchase; third, whether an issuers misstatement of its historical performance gives rise to a viable fraud-on-the-market claim when the companys actual historical performance was already public information at the time the misstatement was made; and fourth, whether a securities fraud claim may be based upon statements made by an issuer following the plaintiffs purchase. We conclude that none of these sets of circumstances gives rise to a § 10(b) claim, and accordingly we affirm the district courts dismissal of plaintiff-appellants amended complaint.
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