MURPHY, Circuit Judge.
Arthur M. Schwartz sued Celestial Seasonings, Inc., and others in the United States District Court for the District of Colorado for violations of securities laws. The district court dismissed the suit for failure to satisfy the particularized pleading requirements of Fed.R.Civ.P. 9(b). Exercising jurisdiction pursuant to 28 U.S.C. § 1291, this court
I. FACTUAL BACKGROUND
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