72 Cited authorities

Ashcroft v. Iqbal
556 U.S. 662 (2009) Cited 252,709 times 279 Legal Analyses
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
550 U.S. 544 (2007) Cited 266,625 times 365 Legal Analyses
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' "
ATSI Communications, Inc. v. Shaar Fund, Ltd.
493 F.3d 87 (2d Cir. 2007) Cited 3,874 times 6 Legal Analyses
Holding that deception occurs when "investors are misled to believe that prices at which they purchase and sell securities are determined by the natural interplay of supply and demand, not rigged by manipulators"
Merrill v. Dabit
547 U.S. 71 (2006) Cited 668 times 43 Legal Analyses
Holding that state law class action securities fraud claims brought by “holders” of securities are, just like those of “purchasers” and “sellers,” preempted by the Securities Litigation Uniform Standards Act
Mandarin v. Wildenstein
2011 N.Y. Slip Op. 741 (N.Y. 2011) Cited 1,604 times 5 Legal Analyses
Holding that plaintiff must allege a misrepresentation or a material omission of fact which was "false and known to be false"
Securities v. Zandford
535 U.S. 813 (2002) Cited 520 times 17 Legal Analyses
Holding that the SEC may bring a public enforcement action against a broker who accepted payment for securities that he never delivered
Rombach v. Chang
355 F.3d 164 (2d Cir. 2004) Cited 1,388 times 5 Legal Analyses
Holding that complaint may establish scienter through facts showing that defendants "had both motive and opportunity to commit fraud"
Lerner v. Fleet Bank, N.A.
459 F.3d 273 (2d Cir. 2006) Cited 1,189 times 4 Legal Analyses
Holding that an aiding and abetting claim under New York law requires "an allegation that such defendant had actual knowledge of the breach of duty"
Kaufman v. Cohen
307 A.D.2d 113 (N.Y. App. Div. 2003) Cited 1,166 times 4 Legal Analyses
Holding that misrepresentations by one business partner to other partners about the value of a business interest was "essential" to completing the underlying misappropriation of a business opportunity
Kalnit v. Eichler
264 F.3d 131 (2d Cir. 2001) Cited 844 times 1 Legal Analyses
Holding that where a complaint “does not present facts indicating a clear duty to disclose” it does not establish “ strong evidence of conscious misbehavior or recklessness”
Section 78bb - Effect on existing law
15 U.S.C. § 78bb Cited 906 times 30 Legal Analyses
Adopting definition of "covered security" found in paragraphs and of section 18(b) of the Securities Act of 1933
Section 155.05 - Larceny; defined
N.Y. Penal Law § 155.05 Cited 663 times 5 Legal Analyses
Defining "steal[ing]" and "larceny" to require "intent to deprive another of property"
Section 77z-1 - Private securities litigation
15 U.S.C. § 77z-1 Cited 454 times 14 Legal Analyses
Discussing "[t]otal attorneys' fees and expenses" that can be awarded by court
Section 77p - Additional remedies; limitation on remedies
15 U.S.C. § 77p Cited 449 times 16 Legal Analyses
Allowing certain securities class actions to be removed to federal court
Section 5318 - Compliance, exemptions, and summons authority
31 U.S.C. § 5318 Cited 248 times 110 Legal Analyses
Setting forth legal mechanisms to ensure compliance with federal reporting requirements
Section 77r - Exemption from State regulation of securities offerings
15 U.S.C. § 77r Cited 201 times 9 Legal Analyses
Recognizing state authority to regulate offerings of securities that are completely intra-state

Shapiro v. JPMorgan Chase & Co. et al

72 Cited authorities

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

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' "

Holding that deception occurs when "investors are misled to believe that prices at which they purchase and sell securities are determined by the natural interplay of supply and demand, not rigged by manipulators"

Holding that state law class action securities fraud claims brought by “holders” of securities are, just like those of “purchasers” and “sellers,” preempted by the Securities Litigation Uniform Standards Act

Holding that plaintiff must allege a misrepresentation or a material omission of fact which was "false and known to be false"

Holding that the SEC may bring a public enforcement action against a broker who accepted payment for securities that he never delivered

Holding that complaint may establish scienter through facts showing that defendants "had both motive and opportunity to commit fraud"

Holding that an aiding and abetting claim under New York law requires "an allegation that such defendant had actual knowledge of the breach of duty"

Holding that misrepresentations by one business partner to other partners about the value of a business interest was "essential" to completing the underlying misappropriation of a business opportunity

Holding that where a complaint “does not present facts indicating a clear duty to disclose” it does not establish “ strong evidence of conscious misbehavior or recklessness”

Adopting definition of "covered security" found in paragraphs and of section 18(b) of the Securities Act of 1933

Defining "steal[ing]" and "larceny" to require "intent to deprive another of property"

Discussing "[t]otal attorneys' fees and expenses" that can be awarded by court

Allowing certain securities class actions to be removed to federal court

Setting forth legal mechanisms to ensure compliance with federal reporting requirements

Recognizing state authority to regulate offerings of securities that are completely intra-state