IN RE MORGAN STANLEY INFORMATION FUND SECURITIES

Docket Nos. 09-0837-cv, 09-0858-cv.

592 F.3d 347 (2010)

In re MORGAN STANLEY INFORMATION FUND SECURITIES LITIGATION, No. 09-0837-cv, James M. Lindsay, Michael J. McDermott, Stephen B. Dornak, Dietmar H. Kubb, Lisette Vaessen, and Emil H. Vaessen, behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. Morgan Stanley, Morgan Stanley & Co., Inc., Morgan Stanley DW Inc., Morgan Stanley Information Fund, Morgan Stanley Investment Advisors Inc., Morgan Stanley Investment Management Inc., and Morgan Stanley Distributors, Inc., Defendants-Appellees. In re Morgan Stanley TechnoLogy Fund Securities Litigation, No. 09-0858-cv, John C. Armstrong, Nina H. Armstrong, and James Barenboim, on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. Morgan Stanley, Morgan Stanley & Co., Inc., Morgan Stanley DW Inc., Morgan Stanley Technology Fund, Morgan Stanley Investment Advisors Inc., Morgan Stanley Investment Management Inc., and Morgan Stanley Distributors, Inc., Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided: January 25, 2010.


Attorney(s) appearing for the Case

Dani W. Krasner (Jeffrey S. Nobel and Nancy A. Kulesa, Izard Nobel LLP, Hartford, CT; Robert B. Weintraub, Wolf Haldenstein Adler Freeman & Herz LLP, New York, NY, on the brief), Wolf Haldenstein Adler Freeman & Herz LLP, New York, NY, for Plaintiffs-Appellants in both actions.

Richard A. Rosen (Walter Rieman, on the brief), Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, for Defendants-Appellees in both actions.

Mark Pennington (David M. Becker, Mark D. Cahn, Jacob H. Stillman, on the brief), for amicus curiae Securities and Exchange Commission.

Before: McLAUGHLIN and WESLEY, Circuit Judges, and KAHN, District Judge.


WESLEY, Circuit Judge:

These cases concern the boundaries of disclosure obligations in registration statements and prospectuses filed on Form N-1A pursuant to the Securities Act of 1933 ("Securities Act"), 15 U.S.C. § 77a et seq. In separate but substantially similar putative class actions, two groups of plaintiffs brought claims under sections 11, 12(a)(2), and 15 of the Securities Act. In re Morgan Stanley Info. Fund Sec. Litig., No. 02 Civ. 8579...

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