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

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[?]