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Assignments Chapter 18 Assignment On page 453 of your text, do case question #7 - City of Philadelphia v. Fleming Co., 264 F3d 1245, 10th
Assignments Chapter 18 Assignment On page 453 of your text, do case question #7 - City of Philadelphia v. Fleming Co., 264 F3d 1245, 10th Cir. (2001) In this case the court discusses in detail what a plaintiff in a securities fraud case has to show in order to prevail. What evidence is required in order to show that the defendant "deliberately made misleading statements or omissions to potential stockholders. 7. Fleming, a publicly held company, and several offi- cers of the company, were sued by various stock- holders for securities fraud for filing documents that were materially misleading. The stockholders con- tended that information failed to discuss litigation lost by Fleming that resulted in a damage award of $200 million, which led to the company's stock fall- ing by about 25 percent. The stock price recovered some after part of the trial verdict was set aside, and Fleming settled the case by paying $20 million. Stockholders contended that failure to fully reveal the risks of that litigation caused losses to investors
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