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”

Matrixx Initiatives, Inc. v. Siracusano

Holding that plaintiffs had adequately pled a Rule 10b–5 claim—where defendant had disputed the sufficiency of the allegations with respect to the elements of scienter and materiality—by alleging that defendant had forestalled a stock price drop by making affirmative statements confirming the market's impression that defendant's leading product was safe, despite defendant's awareness of evidence suggesting a significant risk that the nasal spray led to loss of sense of smell; when the risk was finally (belatedly) disclosed, the stock price plummeted

Lormand v. US Unwired, Inc.

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"

Novak v. Kasaks

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

Bryant v. Avado Brands, Inc.

Holding that “a court, when considering a motion to dismiss in a securities fraud case, may take judicial notice . . . of relevant public documents required to be filed with the SEC”

Speaker v. U.S. D. H. S

Holding that plaintiff must do more than recite statutory elements in conclusory fashion and instead, must proffer enough factual content to raise a right to relief above the speculative level

Group v. Findwhat.Com

Holding that “[d]efendants whose fraud prevents preexisting inflation in a stock price from dissipating are just as liable as defendants whose fraud introduces inflation into the stock price in the first instance”

Ganino v. Citizens Utilities Co.

Holding on the basis of Staff Accounting Bulletin No. 99 that "numerical benchmark" are informative but not the "exclusive" test

No. 84 Employer-Teamster v. America W. Holding

Holding that the allegations must be considered in their totality in determining whether plaintiffs have met the PSLRA standard

Rule 56 - Summary Judgment

Holding a party may move for summary judgment on any part of any claim or defense in the lawsuit

Rule 8 - General Rules of Pleading

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

Section 78u-5 - Application of safe harbor for forward-looking statements

Listing as an exclusion from the safe harbor "forward-looking statement in connection with a going private transaction"

Section 70.207 - [Effective 4/14/2025] Reserved