FANNON v. GUIDANT CORP.

No. 08-2429.

583 F.3d 995 (2009)

David FANNON and Iron Workers of Western Pennsylvania Pension Plan, Plaintiffs-Appellants, v. GUIDANT CORPORATION, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided October 21, 2009.


Attorney(s) appearing for the Case

Scott D. Gilchrist, Cohen & Malad, Indianapolis, IN, Geoffrey M. Johnson, Attorney (argued), Scott & Scott, Chagrin Falls, OH, for Plaintiffs-Appellants.

Boris Feldman, Attorney (argued), Wilson, Sonsini, Goodrich & Rosati, Palo Alto, CA, for Defendants-Appellees.

Before BAUER, FLAUM and WOOD, Circuit Judges.


WOOD, Circuit Judge.

This case involves the claims of a plaintiff class that believes the defendant corporation defrauded them. The class asserts that the corporation knew that it had flawed products, but in the face of that knowledge made false or misleading public statements about the products and about a pending merger. In addition, the plaintiffs charge, the individual defendants sold nearly $89 million in company stock during the period covered by the class's...

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