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CONSTRUCTION INDUSTRY AND LABORERS v. CARBONITE

No. 20-2110.

22 F.4th 1 (2021)

CONSTRUCTION INDUSTRY AND LABORERS JOINT PENSION TRUST, Plaintiff, Appellant, Ruben A. Luna, individually and on behalf of all others similarly situated; Valerie Cosgrove, derivatively on behalf of Carbonite, Inc.; William Feng, individually and on behalf of all others similarly situated; Michael Randolph, derivatively on behalf of Carbonite, Inc., Plaintiffs, v. CARBONITE, INC.; Mohamad S. Ali; Anthony Folger, Defendants, Appellees. Linda Connly; Marina Levinson; Todd Krasnow; Scott A. Daniels; Charles F. Kane; Stephen Munford; David Friend, Defendants.

United States Court of Appeals, First Circuit.

December 22, 2021.

Attorney(s) appearing for the Case

Andrew S. Love , with whom Samuel H. Rudman , David A. Rosenfeld , Robert D. Gerson , Philip T. Merenda , Robbins Geller Rudman & Dowd LLP, Theodore M. Hess-Mahan , and Hutchings Barsamian Mandelcorn, LLP were on brief, for appellant.

Alisha Q. Nanda , with whom James R. Carroll , Immanuel R. Foster , and Skadden, Arps, Slate, Meagher & Flom LLP were on brief, for appellees.

Before Kayatta, Selya, and Barron, Circuit Judges.

Lead plaintiff Construction Industry and Laborers' Joint Pension Trust ("plaintiff") and other holders of common stock of defendant Carbonite, Inc. ("Carbonite") brought this securities fraud class action alleging that Carbonite and certain current and former officers misled investors by touting a new product that they knew...

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