Ashland, Inc. v. MORGAN STANLEY & CO., INC.

How courts have described this case

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

• holding that a \promise to act was so vague and indefinite that reliance upon that promise ... cannot be said to be reasonable.\
• finding that complaint of sophisticated investors provided no indication that information about student loan auction rate securities market was so closely kept so as to render the information inaccessible for the purposes of alleging reasonable reliance
• “Where the investor knows that he or she is in a position to acquire additional information, but does not inquire, the Second Circuit has found that the duty to exercise minimal diligence renders the investor's reliance unreasonable.”
• reliance on vague and indefinite assurances is unreasonable

Source: CourtListener parenthetical corpus (CC0).