Securities – Fraud

Where a securities fraud complaint against a manufacturer of medical devices was dismissed, the dismissal order must be affirmed, as the statements forming the basis for the complaint were either not false or misleading or were made without the necessary scienter.

In Re: Boston Scientific Corporation Securities Litigation (Lawyers Weekly No. 01-177-12) (21 pages) (Boudin, J.) (1st Circuit) Appealed from a decision by Woodlock, J., in the U.S. District Court for the District of Massachusetts. William H. Narwold, with whom Gregg S. Levin, James M. Hughes, William S. Norton, J. Brandon Walker, Motley Rice, Sherrie R. Savett, Barbara A. Podell, Phyllis M. Parker, Berger & Montague, Leslie R. Stern and Berman DeValerio were on brief, for appellants Steelworkers Pension Trust and KBC Asset Management NV; Robert J. Kaler, with whom David Himelfarb, Edward W. Little Jr. and McCarter & English were on brief, for appellees Boston Scientific Corporation, J. Raymond Elliott, Samuel R. Leno, Fredericus A. Colen and James R. Tobin (Docket No. 11-2250) (July 12, 2012).