JACKSON v. ABERNATHY

No. 19-1300-cv August Term 2019.

960 F.3d 94 (2020)

Ronald JACKSON, individually and on behalf of all others similarly situated, Plaintiff-Appellant, v. Robert E. ABERNATHY, Steven E. Voskuil, Kimberly-Clark Corporation, Thomas J. Falk, Mark A. Buthman, Avanos Medical, Inc., Defendants-Appellees, Halyard Health, Inc., Defendant.

United States Court of Appeals, Second Circuit.

Decided: May 27, 2020.


Attorney(s) appearing for the Case

Tamar A. Weinrib ( Jeremy A. Lieberman , Marc I. Gross , on the brief), Pomerantz LLP, New York, NY; Patrick V. Dahlstrom , Pomerantz LLP, Chicago, IL, for Plaintiff-Appellant.

Eamon P. Joyce ( Francesca E. Brody , on the brief), Sidley Austin LLP, New York, NY; Christopher Y. Lee , Sidley Austin LLP, Chicago, IL, for Defendants-Appellees Kimberly-Clark Corporation, Thomas J. Falk, and Mark A. Buthman.

John A. Jordak, Jr. ( Brett D. Jaffe , Elizabeth Gingold Clark , on the brief), Alston & Bird LLP, New York, NY, for Defendants-Appellees Avanos Medical, Inc., Robert E. Abernathy, and Steven E. Voskuil.

Before: Calabresi, Wesley, and Sullivan, Circuit Judges.


This is a case about collective intent — or lack thereof. Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") forbids a company or an individual from making a materially misleading statement to shareholders. But liability for such a statement requires proof that it was made...

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