LEWIS v. CHRYSLER CORP.

No. 91-1222.

949 F.2d 644 (1991)

Harriet LEWIS, on Behalf of herself and all others similarly situated, v. CHRYSLER CORPORATION; Lee A. Iacocca; Gerald Greenwald; Robert A. Lutz; Robert S. Miller, Jr.; Joseph E. Antonini; Bennett E. Bidwell; Owen F. Bieber, Anthony J. Bryan; Joseph A. Califano; A. Jean Grandpre; Earl G. Graves; Ronald H. Grierson; Juanita M. Kreps; Kent Krese; Robert J. Lanigan; Peter A. Magowan; Harriet Lewis, Appellant.

United States Court of Appeals, Third Circuit.

Decided November 12, 1991.


Attorney(s) appearing for the Case

Mark C. Rifkin (Argued), Richard D. Greenfield, Greenfield & Chimicles, Haverford, Pa., for appellant.

Laurence Z. Shiekman (Argued), Pepper, Hamilton & Scheetz, Philadelphia, Pa., for appellees.

Before COWEN, NYGAARD and WEIS, Circuit Judges.


OPINION OF THE COURT

NYGAARD, Circuit Judge.

In this appeal we decide that a class of shareholders of Chrysler Corporation has not stated a claim against the company and its board directors (collectively "Chrysler") under § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) (1990), and Rule 10b-5 promulgated thereunder. The district court twice dismissed the class action under Fed.R.Civ.P. 12(b)(6), reasoning that the shareholders...

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