IBEW LOCAL 98 PENSION FUND v. BEST BUY CO., INC.

No. 14-3178.

818 F.3d 775 (2016)

IBEW LOCAL 98 PENSION FUND, et al., Plaintiffs-Appellees v. BEST BUY CO., INC., et al., Defendants-Appellants. Securities Industry and Financial Markets Association; Chamber of Commerce of the United States, Amici on Behalf of Appellants.

United States Court of Appeals, Eighth Circuit.

Filed: April 12, 2016.


Attorney(s) appearing for the Case

Joseph M. McLaughlin , argued, New York, N.Y. ( Eric John Magnuson , Stephen Paul Safranski , Jeffrey Sullivan Gleason , Minneapolis, MN, Joseph M. McLaughlin , George S. Wang , Daniel J. Stujenske , New York, NY, on the brief), for Defendants-Appellants.

Susan Katina Alexander , San Francisco, CA ( Clayton Dean Halunen , Minneapolis, MN., Susan Katina Alexander , Shawn A. Williams , Daniel J. Pfefferbaum , Aelish M. Baig , Kenneth J. Black , San Francisco, CA, on the brief), for Plaintiffs-Appellees.

Kathryn L. Comerford Todd , Charles E. Davidow , Ira D. Hammerman , Kevin Carroll , Tyler R. Green , Washington, DC, Lewis J. Liman , Marc Falcone , Robin Tarnofsky , New York, NY, on the brief, for Amici on Behalf of Appellants.

Before LOKEN, MURPHY, and COLLOTON, Circuit Judges.


Best Buy Co., Inc., is a leading retailer of consumer electronic products and services. Plaintiffs sued Best Buy and three of its executives (collectively, "defendants") alleging they violated Rule 10b-5 of the federal securities laws1 by making fraudulent...

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