In Re Countrywide Financial Corporation Securities Litigation

How courts have described this case

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

• reasoning that the \ by purchasing or selling\ language of Section 20A \means that the predicate violation must be an act of insider trading\
• explaining that plaintiffs can represent investors who purchased securities issued with different prospectuses when they are traceable to the same initial shelf registration, “share common ‘parts’ ” and were false and misleading at each effective date
• rejecting the argument that the judicially noticeable filing of the MBS prospectuses with the SEC rendered the complaint’s allegations implausible as a matter of law
• explaining why under Ninth Circuit case law plaintiffs failed to adequately allege scienter against outside auditor
• noting 15 that securities plaintiffs alleging fraud must meet “three separate pleading standards”
• “So long as (1) the securities are traceable to the same initial shelf registration and (2) the registration statements share common ‘parts’ that (3

Source: CourtListener parenthetical corpus (CC0).