In Re Ancor Communications, 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 knowledge of facts related to the defendant’s $30 million, contract could be imputed to the company and its officers and that such knowledge evidenced a strong inference of scienter
• suggesting that such an exception may be found as to a contract that “was undeniably the most significant” in a company’s history
• noting that the complaint alleged that defendant convinced its customers to accept inventory that they had no obligation to purchase and that they had not sold to other customers (consignment transactions) in order to inflate its revenue for particular financial periods
• focusing on the presence of insider sales as a factor supporting a strong inference of scienter
• finding support for a strong inference of conscious behavior from a company’s substantial overstatements of revenues
• failure to disclose information material to a $30,000,000 contract combined with GAAP violations amounts to a strong inference of scienter

Source: CourtListener parenthetical corpus (CC0).