Ashcroft v. Iqbal

Holding that a claim is plausible where a plaintiff's allegations enable the court to draw a "reasonable inference" the defendant is liable

Bell Atl. Corp. v. Twombly

Holding that a complaint's allegations should "contain sufficient factual matter, accepted as true, to 'state a claim to relief that is plausible on its face' "

Tellabs v. Makor Issues Rights

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

Dura Pharmaceuticals v. Broudo

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

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

Ernst Ernst v. Hochfelder

Holding that Section 9(f) “contains a state-of-mind condition requiring something more than negligence”

TSC Industries, Inc. v. Northway, Inc.

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"

Gustafson v. Alloyd Co.

Holding that § 12 does not apply to secondary market transactions as the statute's inclusion of the term “prospectus” evinces an intent to limit the Sections's scope solely to the initial public offering

Herman MacLean v. Huddleston

Holding that an express remedy under § 11 of the 1933 Act for misleading registration statements did not preclude an overlapping implied private cause of action for fraudulent misrepresentation under § 10(b) of the 1934 Act

Santa Fe Industries, Inc. v. Green

Holding that the Securities Exchange Act is limited in scope to its textual provisions and does not conflict with state law regarding corporate misconduct, particularly corporate mismanagement

Rule 9 - Pleading Special Matters

Permitting "[m]alice, intent, knowledge, and other conditions of a person's mind [to] be alleged generally"

Section 78j - Manipulative and deceptive devices

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

Section 78u-4 - Private securities litigation

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

Section 1029 - Fraud and related activity in connection with access devices

Criminalizing conspiracy to commit access device fraud

Section 77k - Civil liabilities on account of false registration statement

Holding liable for a false registration statement "every person who was a director of . . . or partner in the issuer" at time of filing

Section 77m - Limitation of actions

Establishing a one-year statute of limitations for §§ 11 and 12 claims which begins to run upon "the discovery of the untrue statement or omission, or after such discovery should have been made by the exercise of reasonable diligence"

Section 77l - Civil liabilities arising in connection with prospectuses and communications

Authorizing relief if the offering documents contain just one untrue statement of material fact

Section 78i - Manipulation of security prices

Granting right of action to " the person . . . injured" by manipulation of security prices

Section 240.10b-5 - Employment of manipulative and deceptive devices

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

Section 270.2a-4 - Definition of "current net asset value" for use in computing periodically the current price of redeemable security