Grossman v. Novell, 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 it is an abuse of discretion for a district court to refuse leave to amend if the stated reasons are “incorrect as a matter of law”
• concluding that the “bespeaks caution” doctrine would not apply because the statements at issue contained “then-present factual conditions, or implied background factual assumptions a reasonable investor would regard the speaker as believing to be true.”
• noting that in “fraud on the market” cases, an investor’s reliance on public material misrepresentations is presumed
• holding \bespeaks caution\ doctrine inapplicable to alleged statements relating to the company's increased market share, pace of mer ger integration, and \smooth\ merger
• noting that dismissal of the claim with prejudice 1s appropriate where the amendment would be futile
• noting that if the stated reasons for dismissing on futility grounds “are incorrect as a matter of law, the district court will be found to have abused its discretion in dismissing the claim with prejudice”

Source: CourtListener parenthetical corpus (CC0).