On January 9, 2009, the United States Court of
Appeals for the Eleventh Circuit affirmed the
dismissal with prejudice of a Rule 10b-5 claim
based on alleged stock options backdating for
failure to plead a “strong inference” of scienter in
accord with the Private Securities Litigation Reform
Act of 1995 (the “PSLRA”). Following on the heels
of its October 2008 opinion in Mizzaro v. Home
Depot, Inc.,1 the Eleventh Circuit’s decision in
Rosenberg v. Gould shows that the court will
continue to bring exacting scrutiny to bear upon a
10b-5 plaintiff’s allegations of scienter.
Please see full publication below for more information.