Ex parte S.M. PETITION FOR WRIT OF CERTIORARI TO THE COURT OF CIVIL APPEALS (In re: S.M. v. Madison County Department of Human Resources) (Madison Juvenile Court: JU-18-1400.02 Civil Appeals: CL-2022-0575).

How courts have described this case

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

• plaintiff must establish wilful or reckless disregard of the truth in order to recover under rule 10b-5
• intent to defraud, reckless disregard for the truth, or knowing use of a device, scheme or artifice to defraud
• outside director has no duty to insure all material adverse information is conveyed; meaningful culpable participation is requisite element for liability
• intent of Congress in passing Section 20(a) “was obviously to impose liability only on those directors . .. who are in some meaningful sense culpable participants in the fraud perpetrated by controlled persons”
• Rule 10b-5 liability requires proof of willful or reckless disregard for the truth
• Section 20(a) requires only “some indirect means of discipline or' influence,” meaning that an individual could be held liable merely on basis of his status as president of company whose employee was liable as principal

Source: CourtListener parenthetical corpus (CC0).