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003210P.pdf   08/07/2002  Pasquale Migliaccio  v.  K-TEL Intl.
   U.S. Court of Appeals Case No:  00-3210
   District of Minnesota   
   Civil case - Securities. Plaintiffs alleged defendants committed 
   securities fraud in violation of section 10(b) of the Securities 
   Exchange Act of 1934, 15 U.S.C. Sec. 78j(b) and Rule 10b-5 
   by failing to make certain accounting adjustments in 
   compliance with Generally Accepted Accounting Principles 
   and by failing to make a timely disclosure regarding an 
   NASDAQ delisting letter. Held, district court did not err 
   in dismissing the complaint for failure to allege the accounting 
   violations with the requisite particularity required under 
   Fed.R.Civ.P. 9(b) and for failure to plead facts giving rise 
   to a strong inference that defendants acted with the required 
   state of mind as dictated by the Private Securities Litigation 
   Reform Act. Dissent by Judge Murphy.