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AMERICAN BANK v. CITY OF MENASHA

No. 10-1963.

627 F.3d 261 (2010)

AMERICAN BANK, Plaintiff-Appellant, v. CITY OF MENASHA, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided November 29, 2010.

As Amended December 8, 2010.

Attorney(s) appearing for the Case

Michael A. Wukmer (argued), Ice Miller , Indianapolis, IN, for Plaintiff-Appellant.

Brian E. Casey , Barnes & Thornburg, South Bend, IN, Joseph J. Saltarelli (argued), Hunton & Williams, New York, NY, for Defendants-Appellees.

Before POSNER, FLAUM, and SYKES, Circuit Judges.

POSNER, Circuit Judge.

The Private Securities Litigation Reform Act of 1995 provides, with an immaterial exception, that "all discovery and other proceedings shall be stayed during the pendency of any motion to dismiss" a suit governed by the Act. 15 U.S.C. § 78u-4(b)(3)(B). The Securities Litigation Uniform Standards Act of 1998 (SLUSA) amended the Private Securities Litigation Reform Act (PSLRA) to authorize the district...

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