[DOWNLOAD] "Roots Partnership v. Lands End Inc." by United States Court of Appeals for the Seventh Circuit # Book PDF Kindle ePub Free
eBook details
- Title: Roots Partnership v. Lands End Inc.
- Author : United States Court of Appeals for the Seventh Circuit
- Release Date : January 29, 1992
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 67 KB
Description
REYNOLDS, Senior District Judge. This case requires us to address first whether an issuers forward-looking statements of its financial goals fall within SEC Rule 175, 17 C.F.R. ร§ 230.175 (1991), one of the "safe harbors" established by the SEC on the authority of the Securities Act of 1933, Title 15 United States Code ร§ 77s(a); second, whether an issuers inaccurate prediction of financial performance gives rise to a viable fraud-on-the-market claim under ร§ 10(b) of the Securities Exchange Act, when the issuers failure to achieve the predicted performance was already public knowledge prior to the plaintiffs purchase; third, whether an issuers misstatement of its historical performance gives rise to a viable fraud-on-the-market claim when the companys actual historical performance was already public information at the time the misstatement was made; and fourth, whether a securities fraud claim may be based upon statements made by an issuer following the plaintiffs purchase. We conclude that none of these sets of circumstances gives rise to a ร§ 10(b) claim, and accordingly we affirm the district courts dismissal of plaintiff-appellants amended complaint.