Opinion ID: 691379
Heading Depth: 3
Heading Rank: 1

Heading: Fairly reflected in the complaint

Text: 24 Federal Rule of Civil Procedure 9(b) requires that the circumstances constituting fraud ... shall be stated with particularity. In a securities fraud action, a pleading is sufficient under Rule 9(b) if it identifies the circumstances of the alleged fraud so that the defendant can prepare an adequate answer. Wool v. Tandem Computers Inc., 818 F.2d 1433, 1439 (9th Cir.1987). The pleadings must state precisely the time, place, and nature of the misleading statements, misrepresentations, and specific acts of fraud. Id. at 1439-40. See also Moore v. Kayport Package Express, Inc., 885 F.2d 531, 540 (9th Cir.1989) (the allegations should include the misrepresentations themselves with particularity and, where possible, the roles of the individual defendants in the misrepresentations). 25 The four statements are missing entirely from Kaplan's second amended complaint and, at the time when the motions for summary judgment were filed, were not present in any pleading before the district court, except for Kaplan's summary judgment motion. We therefore conclude that the four statements are not fairly reflected in the complaint. The district court did not err in refusing to consider them. Id.