In Re eSpeed, Inc. Securities Litigation

How courts have described this case

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

• ruling that motive allegations were insufficient because complaint, inter alia, failed to specify profit garnered through defendants’ stock sales
• holding that complete absence of sales by two of four defendants during relevant period undercut inference of scienter with respect to two defendants who sold shares
• concluding that stock options “must be considered along with shares actually held in determining whether insider sales are significant”
• holding that sales of 10.9% and 17.4% of holdings were not unusual
• observing that the plaintiff should have alleged “the percentage increase in each defendants’ holdings during the class period”
• finding complaint deficient because it “d[id] not disclose whether [defendants] made any profit from the sales”

Source: CourtListener parenthetical corpus (CC0).