EMPLOYEES' RETIREMENT SYSTEM v. BLANFORD

No. 14-199-CV.

794 F.3d 297 (2015)

EMPLOYEES' RETIREMENT SYSTEM OF GOVERNMENT OF THE VIRGIN ISLANDS, Lead Plaintiff, on behalf of itself and all others similarly situated, Louisiana Municipal Police Employees' Retirement System, Lead Plaintiff, on behalf of itself and all others similarly situated, Board of Trustees of the City Of Fort Lauderdale General Employees' Retirement System, Lead Plaintiff, on behalf of itself and all others similarly situated, Public Employees' Retirement System of Mississippi, Lead Plaintiff, on behalf of itself and all others similarly situated, Sjunde Ap-Fonden, Lead Plaintiff, on behalf of itself and all others similarly situated, Plaintiffs-Appellants, v. Lawrence J. BLANFORD, Green Mountain Coffee Roasters, Inc., Frances G. Rathke, Defendants-Appellees, Barbara D. Carlini, Robert P. Stiller, William D. Davis, Hinda Miller, Jules A. Del Vecchio, Michael J. Mardy, David E. Moran, Merrill Lynch, Pierce, Fenner & Smith Inc., SunTrust Robinson Humphrey, Inc., William Blair & Company, L.L.C., Canaccord Genuity Inc., Janney Montgomery Scott LLC, Wells Fargo Securities, LLC, Piper Jaffray & Co., Rabo Securities USA, Inc., RBC Capital Markets, LLC, Santander Investment Securities Inc., Defendants.

United States Court of Appeals, Second Circuit.

Decided: July 24, 2015.


Attorney(s) appearing for the Case

Mark R. Rosen ( Daniel E. Bacine , Jeffrey A. Barrack , and Lisa M. Lamb , on the brief), Barrack, Rodos & Bacine, Philadelphia, PA; Michael K. Yarnoff , Matthew L. Mustokoff , and Joshua E. D'Ancona , Kessler Topaz Meltzer & Check, LLP, Radnor, PA; and John C. Browne and Laura H. Gundersheim , Bernstein Litowitz Berger & Grossmann LLP, New York, N.Y., for Plaintiffs-Appellants.

Randall W. Bodner ( Anne Johnson Palmer , Mark D. Vaughn , and Douglas H. Hallward-Driemeier , on the brief), Ropes & Gray LLP, Boston, MA, and Washington, DC, for Defendant-Appellee Green Mountain Coffee Roasters, Inc.

Matthew B. Byrne ( Robert B. Hemley , on the brief), Gravel & Shea PC, Burlington, VT, for Defendants-Appellees Lawrence J. Blanford and Frances G. Rathke.

Before: CHIN and CARNEY, Circuit Judges, and SWEET, District Judge.


In this putative securities class action, plaintiffs-appellants are five employee retirement systems ("Plaintiffs") that purchased or otherwise acquired common stock in Green Mountain Coffee Roasters, Inc. ("Green Mountain"), the manufacturer of the Keurig single-cup brewing system. Plaintiffs allege that Green Mountain and...

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