[DOWNLOAD] "EP Medsystems, Inc. v. Echocath, Inc." by Third Circuit U.S. Court Of Appeals " Book PDF Kindle ePub Free
eBook details
- Title: EP Medsystems, Inc. v. Echocath, Inc.
- Author : Third Circuit U.S. Court Of Appeals
- Release Date : January 26, 2000
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 78 KB
Description
EP MedSystems, Inc. appeals the dismissal with prejudice of its securities action against EchoCath, Inc. According to the complaint, the Chief Executive Officer of EchoCath enticed MedSystems into investing $1.4 million in EchoCath by assuring MedSystems that lengthy negotiations had already taken place with four prominent companies to market certain new EchoCath products and that contracts with these companies were "imminent." Relying on cautionary language contained in several public documents filed by EchoCath with the Securities Exchange Commission, the District Court held that these representations, as well as other r elated representations, were immaterial as a matter of law under the"bespeaks caution" doctrine and the general test for materiality. It also held that MedSystems failed to adequately plead scienter, reasonable reliance, and loss causation and could not do so. It accordingly dismissed the complaint without leave to amend.