In Re Alstom SA Securities Litigation

How courts have described this case

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

• noting that “[disagreement exists within the Second Circuit ... as to precisely what conduct, beyond negligence, [culpable participation] entails.”
• stating that plaintiff must allege that defendant “(1) committed a deceptive or manipulative act, (2) with scienter, that (3
• reasoning that a Section 20(a) defendant must have control over the specific transaction in question, not just general control over the primary violator
• observing that plaintiffs might “cast claims of misrepresentations as claims under Rule 10b-5(a) and (c) and thus evade the pleading requirements imposed in misrepresentation cases”
• allowing subsidiary liability where subsidiary communicated misleading information to parent knowing that it would be incorporated in parent’s public statements
• dismissing scheme liability claims where underlying conduct, intentional underbidding of contract, was held not to be inherently deceptive

Source: CourtListener parenthetical corpus (CC0).