Gutman v. Howard Savings Bank

How courts have described this case

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

• holding that a holder claim may proceed where “plaintiffs allege that misrepresentations were directed at them to their injury”
• explaining that common law fraud in New Jersey requires a finding of justifiable reliance by plaintiff on the misrepresentation
• noting that “[t]o survive a 9(b) motion, plaintiff must show that he or she acted upon the fraud or misrepresentation complained of.”
• explaining that Rule 9(b) requires pleading with “some precision and some measure of substantiation.”
• finding reasonableness of reliance where plaintiffs did sell their stock after company announced a loss
• “In the absence of a decision on point from any New Jersey court, this Court will not impose a purchase or sale requirement.”

Source: CourtListener parenthetical corpus (CC0).