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TEACHERS' RETIREMENT SYSTEM OF LA v. HUNTER

No. 05-1988.

477 F.3d 162 (2007)

TEACHERS' RETIREMENT SYSTEM OF LOUISIANA, Plaintiff-Appellant, and Barry Schoenfeld, Individually and on behalf of all others similarly situated; Schoenfeld Group; Bernardinelli Group, Carmine Bernardanelli, Joseph M. Hansen and Frances C. Hunt being referred to as Bernardinelli Group; Gary Sandler; Rochelle Sandler; Judy A. Smith; William H. Dail; Louisiana School Employee Retirement System, Plaintiffs, v. Fred Neal HUNTER; Cynthia B. Merrell; Dolph W. Von Arx; Charles Swoboda; Walter Robb; John W. Palmour; Cree, Incorporated; Calvin H. Carter, Jr.; James E. Dykes, Defendants-Appellees.

United States Court of Appeals, Fourth Circuit.

Decided February 20, 2007.

Attorney(s) appearing for the Case

Richard Ara Harpootlian, Columbia, South Carolina, for Appellant. Bruce C. Vanyo, Katten, Muchin & Rosenman, L.L.P., Los Angeles, California, for Appellees. Jay W. Eisenhofer, John C. Kairis, Sidney S. Liebesman, Grant & Eisenhofer, P.A., Wilmington, Delaware, for Appellant. Carl N. Patterson, Jr., Donald H. Tucker, Jr., Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P., Raleigh, North Carolina; Lyle Roberts, Paul Chalmers, Nicholas I. Porritt, Ilana Kramer, Wilson, Sonsini, Goodrich & Rosati, Reston, Virginia, for Appellees.

Before WILKINSON, NIEMEYER, and SHEDD, Circuit Judges.

Affirmed by published opinion. Judge NIEMEYER wrote the majority opinion, in which Judge WILKINSON joined. Judge SHEDD wrote a dissenting opinion.

NIEMEYER, Circuit Judge.

The district court dismissed plaintiffs' 168-page securities-fraud class-action complaint brought against Cree, Inc., a high-technology business in Durham, North Carolina,1 which purported to allege claims under § 10(b) of the Securities Exchange Act of...

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