On June 17th, the Eighth Circuit held that a pattern of disclosure does not create a duty to disclose. Securities fraud plaintiffs alleged that an issuer's past pattern of disclosing problems at its facilities required it to disclose the problems that occurred during the proposed class period. The Court rejected that contention noting that the plaintiffs cited no case law in support of their argument. The Court further noted that plaintiffs failed to adequately allege scienter. Patel v. MEMC Electronic Materials, Inc.