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IN RE 2007 NOVASTAR FINANCIAL INC., SECURITS. LIT.

No. 08-2452.

579 F.3d 878 (2009)

In re 2007 NOVASTAR FINANCIAL INC., SECURITIES LITIGATION, Robert W. Boyd, III, individually and on behalf of all others similarly situated; Bruce Gilmore; Steven J. Gedy; Norman Pelletier; James E. Murphy, on behalf of himself and all others similarly situated, Plaintiffs, Dr. Kevin Lester, Plaintiff-Appellant, Joshua Brown; Merri-Jo Hillaker; Charles McComb; Lois McComb; William Weakley; Alan James Bima, individually and on behalf of all others similarly situated; Gary M. Tanner; Lee M. Edison; Jack F. Dunbar, on behalf of himself and all others similarly situated; Durston Winesburg, on behalf of himself and all others similarly situated; Michael Owens, behalf of himself and all others similarly situated, Plaintiffs, v. Novastar Financial, Inc.; Scott F. Hartman; W. Lance Anderson; Gregory S. Metz, Defendants-Appellees.

United States Court of Appeals, Eighth Circuit.

Filed: September 1, 2009.

Attorney(s) appearing for the Case

Joseph D. Daley, argued, Thomas E. Eagler, Frederick Walters, Alexandra Bernay, Lauren Kerkhoff, on the brief, San Diego, CA, for appellant.

William F. Alderman, argued, San Francisco, CA, Michael Thompson, Brian D. Martin, on the brief, Kansas City, MO, for appellee.

Before BYE, COLLOTON and GRUENDER, Circuit Judges.

GRUENDER, Circuit Judge.

Kevin Lester appeals from the district court's1 order dismissing his class-action securities complaint under the heightened pleading requirements of the Private Securities Litigation Reform Act of 1995 ("PSLRA"), 15 U.S.C. § 78u-4(b), and concluding that any attempt to amend the complaint would be futile. For the reasons discussed below, we affirm.

I. BACKGROUND

We draw the relevant facts...

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