Anglo American Security Fund, L.P. v. S.R. Global International Fund, L.P.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that justifiable reliance must be pled with particularity under Rule 9(b)
• stating that, “[u]nder the terms of the [governing a]greement, the limited partners have absolutely no control over the governance and management of the Fund[s]”
• stating that the court must engage in a review of the complaint and determine from the pleadings whether the claims are direct or derivative
• finding that the fourth and fifth elements of fraud are “. . . inadequately pled to meet the requirements of Court of Chancery Rule 9(b)”
• finding that plaintiffs’ conclusory allegations that they were in fact deceived by the defendant’s alleged acts, omissions, and conduct and relied upon them to their detriment were “glaringly insufficient to meet the particularity requirement of Rule 9(b)”
• inferring bad faith from circumstances surrounding manager’s decision not to promptly disclose certain cash withdrawals from the company

Source: CourtListener parenthetical corpus (CC0).