DISCLAIMER: Any unofficial case summaries below are prepared by the clerk's office
as a courtesy to the reader. They are not part of the opinion of the court.
103402P.pdf 06/04/2012 Public Pension Fund Group v. KV Pharmaceutical Company
U.S. Court of Appeals Case No: 10-3402
U.S. District Court for the Eastern District of Missouri - St. Louis
[PUBLISHED] [Bye, Author, with Wollman and Shepherd, Circuit Judges]
Civil case - Securities Fraud. Plaintiffs' complaint alleged with
sufficient particularity that defendant's statements about compliance with
FDA regulations or the FDA's current Good Manufacturing Practices
were false or misleading and the district court erred in dismissing this
claim; district court did not err in determining that the plaintiff investors'
complaint did not sufficiently plead that defendant made false or
misleading statements about earnings tied to the manufacture of the
generic drug Metoprolol; district court did not err in dismissing scheme
liability claims against two of defendant's officers as the plaintiff
investors did not allege with specificity what conduct they engaged in beyond
having knowledge of the misrepresentations and omissions regarding
KV's compliance with FDA regulations or current Good Manufacturing
Practices and earnings tied to generic Metoprolol; district court abused its
discretion in denying plaintiffs' post-judgment motion to amend their
complaint.