Mimi Investors, LLC v. Tufano, P., Pets

Opinion

IN THE SUPREME COURT OF PENNSYLVANIA MIDDLE DISTRICT

MIMI INVESTORS, LLC, : No. 641 MAL 2021 :

Respondent : : Petition for Allowance of Appeal : from the Order of the Superior Court v. : : :

PAUL K. TUFANO, DAVID CROCKER, : DENNIS CRONIN, AND NEIL MATHESON, : :

Petitioners :

ORDER

PER CURIAM

AND NOW, this 26th day of April, 2022, the Petition for Allowance of Appeal is

GRANTED, LIMITED TO the issue set forth below. Allocatur is DENIED as to all

remaining issues. The issue, rephrased for clarity, is:

(1) Whether the Pennsylvania Securities Act of 1972 requires a plaintiff to plead and prove scienter by clear and convincing evidence in connection with an alleged violation of 70 P.L. § 1-401 regulating the purchase and sale of securities in the Commonwealth, and if so, did plaintiff-appellee sufficiently plead its fraud-based claims in its first amended complaint[?]