Blue Sky L. Rep. P 72,496, Fed. Sec. L. Rep. P 93,186 Thorburn Kennedy, Trustee v. Josephthal & Company, Inc., Edward M. Swartz and Fredric Swartz

How courts have described this case

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

• holding that discrepancy between oral misrepresentations and an offering memorandum constituted inquiry notice commencing limitations period
• stating that “the exercise of reasonable diligence is determined ‘by examining the nature of the misleading statements alleged, the opportunity to discover the misleading statements, and the subsequent actions of the parties’”
• affirming district court’s denial of leave to amend where “the motion for leave to amend could be viewed as an attempt to avoid an adverse ruling on summary judgment”
• motion for leave to amend could be viewed as an attempt to avoid an adverse ruling on motions to dismiss
• “We are faced here with the great glowering clouds of the offering memorandum,” where, “[flor each oral representation that [the defendant] made and upon which appellants claim they relied, there was a direct refutation by the plain language of the offering memorandum”

Source: CourtListener parenthetical corpus (CC0).