TEAMSTERS LOCAL 445 FREIGHT DIVISION PENSION FUND, Plaintiff-Appellee,
v.
DYNEX CAPITAL INC. and Merit Securities Corporation, Defendants-Appellants,
Stephen J. Benedetti, Thomas H. Potts, Lehman Brothers, Inc. and Greenwich Capital Markets, Inc., Defendants.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued: January 30, 2008.
Decided: June 26, 2008.
Attorney(s) appearing for the Case
Joel P. Laitman (Kurt Hunciker and Frank R. Schirripa, on the brief), Schoengold Sporn Laitman & Lometti, P.C., New York, N. Y., for Plaintiff-Appellee.
Edward J. Fuhr (Terence J. Rasmussen and Joseph J. Saltarelli, on the brief), Hunton & Williams LLP, New York, N.Y., for Defendants-Appellees.
Carter G. Phillips, Sidley Austin LLP, Washington, D.C., for Amici Curiae Business Roundtable, Chamber of Commerce of the United States of America, Financial Markets Association, and Securities Industry Association.
Daniel J. Popeo, Washington, D.C., for Amicus Curiae Washington Legal Foundation.
Edward Labaton, Goodkin Labaton Rudoff & Scharow, New York, N.Y., for Amicus Curiae National 3 Association of Shareholder and Consumer Attorneys.
Eric Alan Isaacson, Coughlin Stoa Geller Rudman & Robbins LLP, San Diego, Cal., for Amicus Curiae Amalgamated Bank.
Stanley D. Bernstein, Bernstein Liebhard & Lifshitz, LLP, New York, N.Y., for Amici Curia States of Mississippi, New Jersey, New Mexico, and Rhode Island; Iowa Public Employees' Retirement System; Pennsylvania Public School Employees' Retirement System; Pennsylvania State Employees' Retirement System.
Before: WALKER, CALABRESI, and POOLER, Circuit Judges.
United States Court of Appeals, Second Circuit.
JOHN M. WALKER, JR., Circuit Judge:
In this putative securities fraud class action, defendants-appellants Dynex Capital Inc. ("Dynex") and Merit Securities Corp. ("Merit") appeal an order entered on February 10, 2006 in the District Court for the Southern District of New York (Harold Baer, Jr., Judge) denying a motion by Dynex and Merit to dismiss the action as to them. On appeal, defendants argue that the district court erred when it found that plaintiff had...
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