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COOPERMAN v. INDIVIDUAL, INC.

No. 98-1730.

171 F.3d 43 (1999)

Steven G. COOPERMAN, et al., Plaintiffs, Appellants, v. INDIVIDUAL INC., et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided March 22, 1999.

Rehearing Denied April 14, 1999.

Attorney(s) appearing for the Case

Robert P. Sugarman, with whom David J. Bershad, Janine L. Pollack, Milberg Weiss Bershad Hynes & Lerach LLP, Glen DeValerio, Jeffrey C. Block, Matthew E. Miller and Berman, DeValerio & Pease LLP were on brief, for appellants.

Brian E. Pastuszenski, with whom Stephen D. Whetstone, Robert Noah Feldman and Testa, Hurwitz & Thibeault, LLP were on brief, for appellee Individual Inc.

Thomas J. Dougherty, with whom Matthew J. Matule, Skadden, Arps, Slate, Meagher & Flom LLP were on brief, for appellee Managing Underwriters.

Before TORRUELLA, Chief Judge, STAHL and LYNCH, Circuit Judges.

TORRUELLA, Chief Judge.

Six plaintiffs, purchasers of common stock of Individual, Inc. ("Individual" or "the Company"), brought suit under sections 11 and 15 of the Securities Act of 1933 (the "1933 Act") against Individual, its board members, and the underwriters who participated in Individual's March 1996 initial public offering ("IPO"). Plaintiffs claim that defendants made materially false and misleading statements and omitted material facts in connection with...

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