In the ten years since the enactment of the PSLRA, it seems the D.C. Circuit Court of Appeals has never once mentioned the statute in a reported case -- until now. In evaluating an appeal from the dismissal "with prejudice" of Plaintiffs’ claims against accounting firm Radin Glass & Co. and CIBC World Markets Corp., the Panel (led by Chief Judge Douglas H. Ginsburg) held that "the district court did not err in determining [Plaintiff’s] oral request to amend her complaint was not a proper motion for leave." "The district court did, however, fail adequately to explain" "why it dismissed [Plaintiff’s] complaint with prejudice," so "we therefore vacate the order of dismissal and remand the case for the district court to enter a new order either dismissing without prejudice or explaining its dismissal with prejudice in a manner consistent with this opinion."
You can read Belizan v. Simon Hershon, issued January 17, 2006, here or at 2006 U.S. App. LEXIS 1018.
Nugget: "Dismissal with prejudice is warranted only when a trial court determines that the allegation of other facts consistent with the challenged pleading could not possibly cure the deficiency."