588 F. Supp. 2d 1132 (C.D. Cal. 2008) Cited 98 times 1 Legal Analyses
Holding complaint persuasively alleges that "systematic changes in Countrywide came from the top down and pervaded virtually every office" because directors and officers allegedly were regularly provided "detailed exception statistics"
723 F. Supp. 2d 568 (S.D.N.Y. 2010) Cited 45 times
Holding that if a registration statement contains an untrue statement of material fact, "then any person acquiring a security pursuant to that registration statement has standing to sue a variety of participants in the security's issuance" and citing 15 U.S.C. § 77k
712 F. Supp. 2d 958 (N.D. Cal. 2010) Cited 29 times 1 Legal Analyses
Holding that named plaintiffs, who had standing to sue based on misstatements or omissions in securities offerings through which they actually purchased securities, did not have standing to sue based on similar allegations relating to offerings through which they did not purchase securities
Distinguishing "between 'obiter dictum,' which constitutes an aside or an unnecessary extension of comments, and considered or 'judicial dictum' where Court, as in this case, is . . . [guiding] the future conduct of inferior courts."
17 C.F.R. § 229.512 Cited 37 times 1 Legal Analyses
Stating that the SEC's position is that indemnification to officers and directors for liabilities arising under the Securities Act is against public policy and such indemnification is unenforceable, with the exception for expenses incurred in successful defense of any action