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WINER FAMILY TRUST v. QUEEN

No. 05-3622.

503 F.3d 319 (2007)

The WINER FAMILY TRUST, Individually and on behalf of all others similarly situated, Appellant Sean Fitzpatrick, (Intervenor in D.C.) v. Michael QUEEN; Thomas McGreal; Joseph W. Luter, IV; Michael H. Cole; Smithfield Foods, Inc.; Pennexx Foods, Inc.; Showcase Foods, Inc.

United States Court of Appeals, Third Circuit.

Filed September 24, 2007.

Attorney(s) appearing for the Case

Kimberly M. Donaldson, Esquire, (Argued), Steven A. Schwartz, Esquire, Chimicles & Tikellis LLP, Haverford, PA, Avi N. Wagner, Esquire, Glancy, Binkow & Goldberg LLP, Los Angeles, CA, Attorneys for Appellant.

Ronald J. Mann, Esquire, (Argued), Austin, TX, Maurice R. Mitts, Esquire, Mitts Milavec, Eric F. Spade, Esquire, Philadelphia, PA, Attorneys for Appellees, Michael Queen, Thomas McGreal, Pennexx Foods, Inc.

Terence J. Rasmussen, Esquire, (Argued), Edward J. Fuhr, Esquire, Eric H. Feiler, Esquire, Jessica M. Erickson, Esquire, Monica S. Call, Esquire, Hunton & Williams LLP Richmond, VA, Alan K. Cotler, Esquire, Milind M. Shah, Esquire, Reed Smith LLP, Philadelphia, PA, Attorneys for Appellees, Joseph W. Luter, IV, Michael H. Cole, Smithfield Foods, Inc., Showcase Foods, Inc.

Before: SCIRICA, Chief Judge, McKEE and STAPLETON, Circuit Judges.

OPINION OF THE COURT

SCIRICA, Chief Judge.

At issue in this private securities fraud class action is whether plaintiffs properly pleaded false and misleading statements and material omissions on the company's earnings potential and stock value, in violation of the Securities and Exchange Act of 1934. The District Court granted defendants' motions to dismiss for failure to meet the pleading requirements of the Private Securities Litigation Reform Act of 1995...

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