Holding that "[m]ere conclusory allegations" about the resignations of company executives did not, without more, give rise to a strong inference of scienter
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"
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 “detailed and specific allegations about management's exposure to factual information within the company” support an inference of scienter
Holding that although company began investigation regarding problems with computer chip at the time statements at issue were made, the court could not infer scienter in absence of allegations showing that the company's management had knowledge of the extent of the problems at that time
15 U.S.C. § 78u-5 Cited 1,257 times 21 Legal Analyses
Noting that under the statutory safe harbor, a defendant may avoid liability for any forward-looking statement that is false or misleading if the statement is "identified as a forward-looking statement, and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those in the forward-looking statement"