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PHILLIPS v. SCIENTIFIC-ATLANTA, INC.

No. 03-13008.

374 F.3d 1015 (2004)

Rochelle PHILLIPS, Kalford C. Fadem, Pond Equities, Peter Kaltman, Harris Holdings, LLC, et al., Plaintiffs-Appellees, v. SCIENTIFIC-ATLANTA, INC., Wallace G. Haislip, James F. McDonald, Defendants-Appellants.

United States Court of Appeals, Eleventh Circuit.

June 22, 2004.

Attorney(s) appearing for the Case

Oscar N. Persons, Susan Elaine Hurd, Kathleen D. Zylan, Alston & Bird, Atlanta, GA, for Defendants-Appellants.

Elizabeth Ann Leland, Lynn L. Sarko, Juli Farris Desper, Seattle, WA, David A. Bain, Craig Gordon Harley, Meryl W. Edelstein, Chitwood & Harley, Atlanta, GA, Sherrie Raiken Savett, Berger & Montague, P.A., Philadelphia, PA, for Plaintiffs-Appellees.

Kathryn S. Zecca, Robbins, Russell, Englert, Orseck & Untereiner, LLP, Washington, DC, for Amicus Curiae Chamber of Commerce of U.S.

Before ANDERSON and BLACK, Circuit Judges, and NANGLE, District Judge.

ANDERSON, Circuit Judge:

This appeal concerns one aspect of the pleading standard of the Private Securities Litigation Reform Act ("PSLRA" or "Reform Act"). Plaintiffs contend that factual allegations may be aggregated to give rise to a strong inference of scienter under the PSLRA. Defendants argue that factual allegations may not be aggregated to infer scienter, and that scienter must be inferred for each defendant and...

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