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.
141947P.pdf 06/22/2015 Thomas Podraza v. Richard Whiting
U.S. Court of Appeals Case No: 14-1947
U.S. District Court for the Eastern District of Missouri - St. Louis
[PUBLISHED] [Shepherd, Author, with Wollman and Smith, Circuit Judges]
Civil case - Securities Fraud. In action by shareholders alleging
defendants, officers of Patriot Coal, violated various provisions of the
Securities and Exchange Act by fraudulently capitalizing environmental
remediation facilities' installations costs to avoid the impact expensing
the costs would have had on Patriot's bottom line, the district court did
not err in dismissing the action on the ground the complaint did not meet
the Private Securities Litigation Reform Act of 1995's heightened
requirement for pleading scienter.