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Corporate Law : Securities Fraud – Promotional Statements – Puffery
Stephanie Maniscalco//July 27, 2017//
Corporate Law : Securities Fraud – Promotional Statements – Puffery
Stephanie Maniscalco//July 27, 2017//
Listen to this articleWhere shareholders brought a securities fraud action arguing that a manufacturer of 3D printers made several knowingly false promotional statements, the judgment for the defendant is affirmed because the statement were vague and obviously hyperbole, so the district court did not err in finding that statements were mere puffery, and the shareholders did not plead facts sufficient to support a strong inference of scienter.
Judgment is affirmed.
Macomb County Employees Retirement System v. Stratasys Ltd. (MLW No. 70808/Case No. 16-3264 – 6 pages) (U.S. Court of Appeals, 8th Circuit, Benton, J.) Appealed from U.S. District Court, District of Minnesota, Schiltz, J. (Douglas S. Wilens, Boca Raton, Florida, argued for appellant; Carolyn Glass Anderson and Brian C. Gudmundson appeared on the brief) (Koji F. Fukumura, San Diego, argued for appellee; Wendy J. Wildung, Craig Edward TenBroeck and Ryan Edward Blair appeared on the brief).
Read the full text of this opinion. (PDF)
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