MERRITT, J., delivered the opinion of the court, in which MARTIN, C. J., DAUGHTREY, MOORE, COLE, CLAY, and GILMAN, JJ„ joined. KENNEDY, J. (pp. 566-73), delivered a separate dissenting opinion, with BOGGS, NORRIS, SUHRHEINRICH, SILER, and BATCHELDER, JJ„ joining in Judge KENNEDY’S dissent. OPINION MERRITT, Circuit Judge. The complaint in this securities class action features allegations of insider tra…
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