38 Cited authorities

Tellabs v. Makor Issues Rights
551 U.S. 308 (2007) Cited 9,448 times 105 Legal Analyses
Holding that a strong inference is one that is "cogent and at least as compelling as any opposing inference"
Zucco Partners, LLC v. Digimarc Corp.
552 F.3d 981 (9th Cir. 2009) Cited 1,385 times 7 Legal Analyses
Holding that "for individual defendants' stock sales to raise an inference of scienter, plaintiffs must provide a 'meaningful trading history' for purposes of comparison to the stock sales within the class period," and that "[e]ven if the defendant's trading history is simply not available, for reasons beyond a plaintiff's control, the plaintiff is not excused from pleading the relevant history"
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
In re Silicon Graphics Inc.
183 F.3d 970 (9th Cir. 1999) Cited 1,443 times 8 Legal Analyses
Holding that stock sales of individual defendants are only indicative of scienter where they are "dramatically out of line with prior trading practices" (quoting In re Apple Computer Sec. Litig., 886 F.2d 1109, 1117 (9th Cir. 1989))
In re Glenfed, Inc. Securities Litigation
42 F.3d 1541 (9th Cir. 1994) Cited 1,724 times 3 Legal Analyses
Holding that plaintiffs may not "merely proclaim in the most conclusory of fashion that the defendants made false statements."
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"
Lentell v. Merrill Lynch Co., Inc.
396 F.3d 161 (2d Cir. 2005) Cited 1,018 times 20 Legal Analyses
Holding that to prove loss causation, a plaintiff must allege "that the misstatement or omission concealed something from the market that, when disclosed, negatively affected the value of the security"
IN RE STAC ELECTRONICS SECURITIES LITIGATION
89 F.3d 1399 (9th Cir. 1996) Cited 818 times
Holding securities section 11 claims sounding in fraud are subject to Rule 9(b) particularity requirements
Cutera Securities Litigation v. Conners
610 F.3d 1103 (9th Cir. 2010) Cited 490 times 3 Legal Analyses
Holding that "statements fall outside the safe harbor if the plaintiff can allege facts that would create a strong inference that the defendants made the [statements] at issue with ‘actual knowledge ... that the statement was false or misleading’ "
San Leandro Emergen. Med. Plan v. Philip Morris
75 F.3d 801 (2d Cir. 1996) Cited 726 times 1 Legal Analyses
Holding that a company's statements that it was "optimistic" about its earnings and "should deliver income growth consistent with its historically superior performance" was non-actionable "puffery"
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. . . ."
Rule 9 - Pleading Special Matters
Fed. R. Civ. P. 9 Cited 39,880 times 331 Legal Analyses
Requiring that fraud be pleaded with particularity
Section 78u-4 - Private securities litigation
15 U.S.C. § 78u-4 Cited 7,663 times 52 Legal Analyses
Granting courts authority to permit discovery if necessary "to preserve evidence or to prevent undue prejudice to" a party

Destefano v. Zynga, Inc. et al

38 Cited authorities

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

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

Holding that stock sales of individual defendants are only indicative of scienter where they are "dramatically out of line with prior trading practices" (quoting In re Apple Computer Sec. Litig., 886 F.2d 1109, 1117 (9th Cir. 1989))

Holding that plaintiffs may not "merely proclaim in the most conclusory of fashion that the defendants made false statements."

Holding that to prove loss causation, a plaintiff must allege "that the misstatement or omission concealed something from the market that, when disclosed, negatively affected the value of the security"

Holding securities section 11 claims sounding in fraud are subject to Rule 9(b) particularity requirements

Holding that "statements fall outside the safe harbor if the plaintiff can allege facts that would create a strong inference that the defendants made the [statements] at issue with ‘actual knowledge ... that the statement was false or misleading’ "

Holding that a company's statements that it was "optimistic" about its earnings and "should deliver income growth consistent with its historically superior performance" was non-actionable "puffery"

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. . . ."

Requiring that fraud be pleaded with particularity

Granting courts authority to permit discovery if necessary "to preserve evidence or to prevent undue prejudice to" a party