New England Biz Law Update
Where a defendant company was awarded summary judgment in a securities fraud case, the judgment must be affirmed for lack of proof of scienter.
In Re: Smith & Wesson Holding Corp. Sec. Litig. (Lawyers Weekly No. 01-049-12) (19 pages) (Boudin, J.) (1st Circuit) Appealed from a decision by Ponsor, J., in the U.S. District Court for the District of Massachusetts. Bryan A. Wood, with whom Glen DeValerio, Norman Berman, John H. Sutter and Berman DeValerio were on brief, for appellant Oklahoma Firefighters Pension & Retirement System; John A. Sten, with whom Jason C. Moreau and Greenberg Traurig were on brief, for the appellees (Docket No. 11-1436) (Feb. 17, 2012).
