62 Cited authorities

Bell Atl. Corp. v. Twombly
550 U.S. 544 (2007) Cited 280,791 times 369 Legal Analyses
Holding that allegations of conduct that are merely consistent with wrongdoing do not state a claim unless "placed in a context that raises a suggestion of" such wrongdoing
Tellabs v. Makor Issues Rights
551 U.S. 308 (2007) Cited 9,584 times 105 Legal Analyses
Holding that a strong inference is one that is "cogent and at least as compelling as any opposing inference"
Dura Pharmaceuticals v. Broudo
544 U.S. 336 (2005) Cited 3,635 times 67 Legal Analyses
Holding that the securities statutes have a private of action “not to provide investors with broad insurance against market losses, but to protect them against those economic losses that misrepresentations actually cause”
Basic Inc. v. Levinson
485 U.S. 224 (1988) Cited 3,421 times 313 Legal Analyses
Holding that the District Court appropriately certified the class based on the presumption of reliance
ATSI Communications, Inc. v. Shaar Fund, Ltd.
493 F.3d 87 (2d Cir. 2007) Cited 4,023 times 6 Legal Analyses
Holding that because "a plaintiff must show . . . a primary violation by the controlled person" in order to "establish a prima facie case of control[-]person liability," a plaintiff who "fails to allege any primary violation . . . cannot establish control[-]person liability"
McCarthy v. Dun & Bradstreet Corp.
482 F.3d 184 (2d Cir. 2007) Cited 3,385 times
Holding that the district court did not abuse its discretion in denying leave to amend where "discovery had closed, defendants had filed for summary judgment, and nearly two years had passed since the filing of the original complaint"
Chiarella v. United States
445 U.S. 222 (1980) Cited 991 times 40 Legal Analyses
Holding that duty to disclose under Rule 10b-5 arises from fiduciary relationship
Novak v. Kasaks
216 F.3d 300 (2d Cir. 2000) Cited 1,638 times 9 Legal Analyses
Holding section 78u-4(b) does not literally require pleading of all facts, so long as facts pleaded provide adequate basis for believing statements were false
Sparling v. Daou
411 F.3d 1006 (9th Cir. 2005) Cited 1,317 times 5 Legal Analyses
Holding that scienter is an element of § 10(b) claim
Rothman v. Gregor
220 F.3d 81 (2d Cir. 2000) Cited 1,372 times 1 Legal Analyses
Holding that "the date of the filing of the motion to amend constitutes the date the action was commenced for statute of limitations purposes" when "the plaintiff seeks to add a new defendant" (quoting Nw. Nat’l Ins. Co. v. Alberts , 769 F. Supp. 498, 510 (S.D.N.Y.1991) )
Rule 8 - General Rules of Pleading
Fed. R. Civ. P. 8 Cited 164,455 times 197 Legal Analyses
Holding that "[e]very defense to a claim for relief in any pleading must be asserted in the responsive pleading. . . ."
Rule 9 - Pleading Special Matters
Fed. R. Civ. P. 9 Cited 40,207 times 337 Legal Analyses
Requiring that fraud be pleaded with particularity
Section 78j - Manipulative and deceptive devices
15 U.S.C. § 78j Cited 12,808 times 167 Legal Analyses
Granting SEC power to establish rules to further statute forbidding manipulative or deceptive devices in connection with purchase or sale of securities
Section 240.10b-5 - Employment of manipulative and deceptive devices
17 C.F.R. § 240.10b-5 Cited 9,421 times 136 Legal Analyses
Holding liable any person who "make any untrue statement of material fact"

City of Livonia Employees' Retirement System v. Essner et al

62 Cited authorities

Holding that allegations of conduct that are merely consistent with wrongdoing do not state a claim unless "placed in a context that raises a suggestion of" such wrongdoing

Holding that a strong inference is one that is "cogent and at least as compelling as any opposing inference"

Holding that the securities statutes have a private of action “not to provide investors with broad insurance against market losses, but to protect them against those economic losses that misrepresentations actually cause”

Holding that the District Court appropriately certified the class based on the presumption of reliance

Holding that because "a plaintiff must show . . . a primary violation by the controlled person" in order to "establish a prima facie case of control[-]person liability," a plaintiff who "fails to allege any primary violation . . . cannot establish control[-]person liability"

Holding that the district court did not abuse its discretion in denying leave to amend where "discovery had closed, defendants had filed for summary judgment, and nearly two years had passed since the filing of the original complaint"

Holding that duty to disclose under Rule 10b-5 arises from fiduciary relationship

Holding section 78u-4(b) does not literally require pleading of all facts, so long as facts pleaded provide adequate basis for believing statements were false

Holding that scienter is an element of § 10(b) claim

Holding that "the date of the filing of the motion to amend constitutes the date the action was commenced for statute of limitations purposes" when "the plaintiff seeks to add a new defendant" (quoting Nw. Nat’l Ins. Co. v. Alberts , 769 F. Supp. 498, 510 (S.D.N.Y.1991) )

Holding that "[e]very defense to a claim for relief in any pleading must be asserted in the responsive pleading. . . ."

Requiring that fraud be pleaded with particularity

Granting SEC power to establish rules to further statute forbidding manipulative or deceptive devices in connection with purchase or sale of securities

Holding liable any person who "make any untrue statement of material fact"