Fed. Sec. L. Rep. P 97,451 Jerry Krim, on Behalf of Himself and All Others Similarly Situated v. Banctexas Group, Inc., Banctexas Group, 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 an “essential element[]” of a Section 11 claim is “that the information allegedly omitted from the prospectus was known to the issuer at the time the prospectus was distributed”
• holding that unsupported allegations of malice are insufficient to defeat summary judgment
• observing that securities laws require issuers to disclose material, firm-specific information regarding predictions — not information concerning general economic “facts” and conditions already known to investors and analysts
• stating that “consideration of whether plaintiff did rely on the local rule is not essential to our decision in this case”
• explaining that the appropriate inquiry is whether the statement or omitted fact is significant, “such that it alters the total mix of information available about the proposed investment”
• explaining that the appropriate inquiry is whether the statement or omitted fact is significant, “such that it alters the ‘total mix’ of information available about the proposed investment”

Source: CourtListener parenthetical corpus (CC0).