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RAAB v. GENERAL PHYSICS CORP.

No. 93-1164.

4 F.3d 286 (1993)

Adolph P. RAAB; Lenora Isaacs, Plaintiffs-Appellants, v. GENERAL PHYSICS CORPORATION; Martin M. Pollak; Roger E. Klose; John C. McAuliffe, Defendants-Appellees.

United States Court of Appeals, Fourth Circuit.

Decided August 26, 1993.

Attorney(s) appearing for the Case

Neil Lewis Selinger, Lowey, Dannenberg, Bemporad & Selinger, P.C., New York City, argued (William R. Weinstein, Lowey, Dannenberg, Bemporad & Selinger, P.C., Michael P. Fuchs, Lawrence D. Levit, Wolf, Popper, Ross, Wolf & Jones, New York City, Tydings & Rosenberg, Baltimore, MD, on brief), for plaintiffs-appellants.

Robert Michael Romano, Morgan, Lewis & Bockius, New York City, argued (George G. Yearsich, John M. Vassos, Morgan, Lewis & Bockius, New York City, Francis B. Burch, Jr., Piper & Marbury, Baltimore, MD, on brief), for defendants-appellees.

Before WILKINSON, HAMILTON, and LUTTIG, Circuit Judges.

OPINION

WILKINSON, Circuit Judge:

In this case, we must address the impact of the securities laws on a company's predictions of its future business prospects. We hold that the prognostications here are not the specific guarantees necessary to make such predictions material, and accordingly, we affirm the district court's dismissal of the complaint.

I.

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