Friday, February 22, 2013

Third Circuit -- Barry Belmont v. MB Investment Partners, Inc.

Securities Fraud -

Reckless acts by controlling persons do not establish 20a liability.

No negligent supervision by Board, as not foreseeable, not really managers.

No 10b5 claim as insufficient scienter.

(again, very quick skim based on what catches our eye as we scroll.  MB)

Barry Belmont v. MB Investment Partners, Inc.
Compiled by D.E. Frydrychowski, who is, not incidentally, not giving you legal advice.

Category tags above are sporadically maintained Do not rely. Do not rely. Do not rely.

Author's SSRN page here.