Ciresi v. Citicorp

How courts have described this case

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

• rejecting, as relating to mismanagement, federal securities law claim based on alleged failure to maintain adequate loan loss reserves and extension of high-risk loans
• finding “claim that the defendants did not plan their loan reserves properly is essentially” one of mismanagement
• dismissing § 14(a) claim in part because “the law does not impose a duty to disclose uncharged, unadjudicated wrongdoing or mismanagement”
• rejecting argument that omission of allegations of accounting firm’s prior audit failures rendered false and misleading defendant’s statement that firm was an “independent auditor”
• “... the law does not impose a duty to disclose uncharged, unadjudicated wrongdoing or mismanagement.”
• “[A]n action under section 14(a) is not the proper avenue for a shareholder to challenge the Board of Directors’ selection of an accountant.”

Source: CourtListener parenthetical corpus (CC0).