Gaffin v. Teledyne, 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 because individual reliance predominates over other issues, no class may be certified in a common law fraud claim involving the stockholders of a corporation as a-proposed class
• explaining that no fiduciary claims could lie where the only defendant was a corporate entity
• stating that fraud-on-the-market presumption of reliance is not available in common law fraud actions
• leaving intact an award of $1 per share to individual plaintiff because there had been no cross-appeal as to the damages finding
• reversing class-wide dimension of $1 per share award based on a lack of record evidence
• rejecting common law fraud claim as vehicle for class-wide recovery of trading losses

Source: CourtListener parenthetical corpus (CC0).