Opinion ID: 1194072
Heading Depth: 2
Heading Rank: 2

Heading: Refusal to Grant Leave to Amend

Text: Generally, parties should not be allowed to amend their complaint without showing how the complaint could be amended to save the meritless claim. Wisdom v. First Midwest Bank, 167 F.3d 402, 409 (8th Cir.1999). On appeal, Crowell Trust has failed to demonstrate any meaningful basis upon which it could amend its complaint to comply with the heightened securities pleading standards. Crowell Trust's only argument is that Possis Medical's answer somehow admits that the AiMI study data was received several months prior to its disclosure to the investing public. Even accepting this admission argument, it is difficult to see how this would help Crowell Trust's pleading to survive a Rule 12 motion. All of the statements alleged by Crowell Trust to be false or misleading occurred prior to the date Possis Medical allegedly admitted to receiving the AiMI study data. All of the stock transactions viewed by Crowell Trust as suspicious had already occurred as well. As Crowell Trust did not establish how its complaint could be amended, the district court did not err in denying leave to amend on the basis of futility.