Chill v. General Elec. Co., 101 F. 3d 263 - Court of Appeals, 2nd Circuit 1996

Plaintiff-appellant Daniel Chill and appellants (collectively, the plaintiffs ) appeal from a judgment entered in the United States District Court for the Southern District of New York (Keenan, J.) dismissing the complaint and denying plaintiffs leave to amend. The district court found that plaintiffs failed to allege facts that supported their claim that defendant-appellee General Electric Company ( GE ) committed securities fraud in reporting the false profits generated by a bond trader at its subsidiary, Kidder, Peabody & Co., Inc. ( Kidder ). For the reasons that follow, we affirm the judgment of the district court