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KAUFMAN v. I-STAT CORP.

735 A.2d 606 (1999)

324 N.J. Super. 344

Susan KAUFMAN, on behalf of herself and all others similarly situated, Plaintiff-Appellant, v. I-STAT CORPORATION, William P. Moffitt, Lionel N. Sterling, Imants R. Lauks, and Matthias Plum, Jr., Defendants-Respondents.

Superior Court of New Jersey, Appellate Division.

Decided August 10, 1999.

Attorney(s) appearing for the Case

William C. Fredericks (Milberg Weiss Bershad Hynes & Lerach) of the New York bar, admitted pro hac vice, New York City, for plaintiff-appellant (Miles M. Tepper, attorney, West Orange; Robert P. Sugarman, of the New York bar, admitted pro hac vice, New York City, and Mr. Fredericks, of counsel; Mr. Tepper, on the brief).

Lawrence M. Rolnick, Roseland, for defendants-respondents (Lowenstein Sandler, attorneys; Douglas C. Conroy and Kurt W. Hansson, (Paul, Hastings, Janofsky & Walker) of the Connecticut bar, admitted pro hac vice, Stamford, CT, of counsel; Edward T. Dartley, Roseland and Mr. Rolnick, on the brief).

Before Judges HAVEY, SKILLMAN and LESEMANN.

The opinion of the court was delivered by SKILLMAN, J.A.D.

The primary issue presented by this appeal is whether a person who purchases corporate securities for a price which is artificially inflated by deliberately false statements issued by the corporation may maintain an action for common law fraud even though the purchaser was not aware of those statements. The trial court held that to maintain a fraud action based upon a corporation's deliberate false statements...

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