NEW ENGLAND CARPENTERS GUARANTEED ANNUITY AND PENSION FUNDS, Lead Plaintiff-Appellant,
Stanley Newmark, Irving Lichtman Revocable Living Trust, Jupiter Capital Management, Plaintiff-Movant-Appellants,
Sharon Albano, Individually and On Behalf of All Others Similarly Situated, Consolidated-Plaintiff-Movant-Appellant,
John Sachetti, Individually and On Behalf of All Others Similarly Situated, Consolidated-Plaintiff,
Joel Rubel, Individually and On Behalf of All Others Similarly Situated, Plaintiff,
v.
Donald T. DECARLO, Susan C. Fisch, Abraham Gulkowitz, George Karfunkel, Jay J. Miller, Consolidated-Defendants-Appellees,
AmTrust Financial Services, Inc., Barry D. Zyskind, Ronald E. Pipoly, Jr., BDO USA, LLP, RBC Capital Markets, LLC, UBS Securities LLC, Citigroup Global Markets Inc., Keefe, Bruyette & Woods, Inc., Morgan Stanley & Co. LLC, Defendants-Appellees.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Steven M. Farina ( John S. Williams , Matthew J. Greer , on the brief), Williams & Connolly LLP, Washington, D.C., for Defendants-Appellees AmTrust Financial Services, Inc., Barry D. Zyskind, Ronald E. Pipoly, Jr., Donald T. DeCarlo, Susan C. Fisch, Abraham Gulkowitz, George Karfunkel, and Jay J. Miller.
Gregg L. Weiner ( Christopher Thomas Brown , Ropes & Gray LLP, New York, NY; William T. Davison , Ropes & Gray LLP, Boston, MA), Ropes & Gray LLP, New York, NY, for Defendants-Appellees Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., UBS Securities LLC, RBC Capital Markets, LLC, and Keefe, Bruyette & Woods, Inc.
Before: LOHIER, NARDINI, Circuit Judges, and KOVNER, Judge.
LOHIER, Circuit Judge:
When is a statement of opinion that reflects some subjective judgment nevertheless actionable under the federal securities laws?
On April 4, 2017, AmTrust Financial Services, Inc., one of the country's largest publicly traded property and casualty insurers, restated five years...
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