Ashland Inc. v. Oppenheimer & Co., 2010 U.S. Dist. LEXIS 15335 (E.D. Ky. February 22, 2010)

LexisNexis Overview: Plaintiffs' complaint under § 10(b) of Securities and Exchange Act did not allege with the required particularity under PSLRA that defendant made material misrepresentations and/or omissions in order to induce plaintiffs to purchase defendant-brokered auction rate securities. Also, plaintiffs had not alleged scienter with sufficient particularity.

Counsel: For Ashland Inc., AshThree LLC, Plaintiffs: Barbara B. Edelman, Grahmn Morgan, LEAD ATTORNEYS, Dinsmore & Shohl LLP - Lexington, Lexington, KY; Charles M. Miller, Christopher P. Johnson, Joshua M. Greenblatt, LEAD ATTORNEYS, PRO HAC VICE, Kasowitz, Benson, Torres & Friedman LLP, New York, NY.

For Oppenheimer & Co., Inc., Defendant: Douglass Farnsley, LEAD ATTORNEY, Clark C. Johnson, Stites & Harbison, PLLC - Louisville, Louisville, KY; Jami Mills Vibbert, Lionel G. Hest, Lucy D. Arnold, LEAD ATTORNEYS, Fulbright & Jaworski LLP - New York, New York, NY; Peter Stokes, LEAD ATTORNEY, Fulbright & Jaworski, LLP - Austin, TX, Austin, TX; Rodney Acker, LEAD ATTORNEY, PRO HAC VICE, Fulbright & Jaworski L.L.P. - Dallas, Dallas, TX.

Judges: JENNIFER B. COFFMAN, UNITED STATES DISTRICT COURT CHIEF JUDGE.

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