49 Cited authorities

Dura Pharmaceuticals v. Broudo
544 U.S. 336 (2005) Cited 3,615 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 3,401 times 312 Legal Analyses
Holding that the District Court appropriately certified the class based on the presumption of reliance
TSC Industries, Inc. v. Northway, Inc.
426 U.S. 438 (1976) Cited 2,517 times 69 Legal Analyses
Holding that materiality may be resolved at summary judgment "if the established omissions are so obviously important to an investor that reasonable minds cannot differ on the question of materiality"
In re Gilead Sciences
536 F.3d 1049 (9th Cir. 2008) Cited 3,012 times 4 Legal Analyses
Holding that a court need not accept as true "allegations that are merely conclusory"
Lormand v. US Unwired, Inc.
565 F.3d 228 (5th Cir. 2009) Cited 2,182 times 5 Legal Analyses
Holding that warnings "d[id] not qualify as meaningful cautionary language" because they "did not disclose that defendants knew from past experience that the [risks] posed an imminent threat of business and financial ruin and that some damage from these risks had already materialized"
Forsyth v. Humana, Inc.
114 F.3d 1467 (9th Cir. 1996) Cited 2,989 times 1 Legal Analyses
Holding plaintiffs could not recover under § 1132 because they “[had] already won a judgment for damages under section 1132 for the injuries they suffered as a result of the defendant's actions”
Novak v. Kasaks
216 F.3d 300 (2d Cir. 2000) Cited 1,627 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
Loux v. Rhay
375 F.2d 55 (9th Cir. 1967) Cited 7,156 times
Noting that the effect of an amended complaint is to supersede the original and render it "non-existent"
Sparling v. Daou
411 F.3d 1006 (9th Cir. 2005) Cited 1,310 times 5 Legal Analyses
Holding that scienter is an element of § 10(b) claim
Metzler v. Corinthian
540 F.3d 1049 (9th Cir. 2008) Cited 960 times 5 Legal Analyses
Holding that plaintiffs failed to plead loss causation where plaintiffs' theory was that "Corinthian's fraud was revealed to the market, causing Metzler's losses" but "[t]he TAC does not allege that the June 24 and August 2 announcements disclosed—or even suggested—[the fraudulent activities] to the market"
Rule 12 - Defenses and Objections: When and How Presented; Motion for Judgment on the Pleadings; Consolidating Motions; Waiving Defenses; Pretrial Hearing
Fed. R. Civ. P. 12 Cited 357,835 times 950 Legal Analyses
Granting the court discretion to exclude matters outside the pleadings presented to the court in defense of a motion to dismiss
Rule 8 - General Rules of Pleading
Fed. R. Civ. P. 8 Cited 162,084 times 197 Legal Analyses
Holding that "[e]very defense to a claim for relief in any pleading must be asserted in the responsive pleading. . . ."

Claude A Reese v. Indymac Financial Inc et al

49 Cited authorities

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 materiality may be resolved at summary judgment "if the established omissions are so obviously important to an investor that reasonable minds cannot differ on the question of materiality"

Holding that a court need not accept as true "allegations that are merely conclusory"

Holding that warnings "d[id] not qualify as meaningful cautionary language" because they "did not disclose that defendants knew from past experience that the [risks] posed an imminent threat of business and financial ruin and that some damage from these risks had already materialized"

Holding plaintiffs could not recover under § 1132 because they “[had] already won a judgment for damages under section 1132 for the injuries they suffered as a result of the defendant's actions”

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

Noting that the effect of an amended complaint is to supersede the original and render it "non-existent"

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

Granting the court discretion to exclude matters outside the pleadings presented to the court in defense of a motion to dismiss

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