In Re Global Crossing, Ltd. Securities Litigation

How courts have described this case

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

• holding that the plaintiffs stated Section 20(a) claim against the defendant because they alleged specific scenarios showing “actual control and culpable participation” by the defendant
• holding that those who masterminded sham transactions or other deceptive practices are primary violators
• noting that control person analysis is a “decidedly fact-based determination”
• finding an inference of motive where an auditor received consulting fees nearly six times greater than its auditing fees
• finding liability where plaintiffs alleged that auditors “prepared, directed or controlled,” “helped created,” and “materially assisted” the preparation of a direct violator’s false statements
• denying motion to dismiss scheme claim where it was alleged that defendant “masterminded” sham swap transactions used to circumvent GAAP and inflate revenues

Source: CourtListener parenthetical corpus (CC0).

Cited by

86 cases in this archive cite this case; the 20 most cited are listed.

• In Re Refco, Inc. Securities Litigation
  S.D. New York· 2007-04-30· cited 154×
• In Re Alstom SA Securities Litigation
  S.D. New York· 2005-12-22· cited 150×
• Regents of the University of California v. Credit Suisse First Boston (USA), Inc.
  Fifth Circuit· 2007-03-19· cited 125×
• Pension Committee of the University of Montreal Pension Plan v. Banc of America Securities, LLC
  S.D. New York· 2006-07-20· cited 110×
• In Re Parmalat Securities Litigation
  S.D. New York· 2005-06-28· cited 107×
• In Re Marsh & McLennan Companies, Inc. Securities Litigation
  S.D. New York· 2006-07-20· cited 103×
• In Re Take-Two Interactive Securities Litigation
  S.D. New York· 2008-04-16· cited 91×
• In Re BISYS Securities Litigation
  S.D. New York· 2005-10-28· cited 83×
• Pacific Investment Management Co. v. Mayer Brown LLP
  Second Circuit· 2010-04-27· cited 72×
• In Re Enron Corp. Securities
  S.D. Texas· 2008-09-08· cited 66×
• In Re Ambac Financial Group, Inc. Securities Litigation
  S.D. New York· 2010-04-29· cited 65×
• City of Roseville Employees' Retirement System v. Energysolutions, Inc.
  S.D. New York· 2011-09-30· cited 65×
• In Re WorldCom, Inc. Securities Litigation
  S.D. New York· 2004-12-15· cited 62×
• Lapin v. Goldman Sachs Group, Inc.
  S.D. New York· 2006-09-29· cited 61×
• In Re Enron Corp. Securities
  S.D. Texas· 2006-06-05· cited 55×
• Simpson v. Aol Time Warner Inc.
  Ninth Circuit· 2006-06-30· cited 54×
• Securities & Exchange Commission v. KPMG LLP
  S.D. New York· 2006-01-13· cited 54×
• Menaldi v. Och-Ziff Capital Management Group LLC
  S.D. New York· 2016-02-17· cited 54×
• In Re Royal Ahold N v. Securities & Erisa Litigation
  D. Maryland· 2004-12-21· cited 48×
• In Re Mutual Funds Investment Litigation
  D. Maryland· 2005-08-25· cited 47×

Cites

47 cases in this archive are cited by this case; the 20 most cited are listed.

• In Re Burlington Coat Factory Securities Litigation. P. Gregory Buchanan, Jacob Turner and Ronald Abramoff
  Third Circuit· 1997-06-10· cited 4,496×
• Ernst & Ernst v. Hochfelder
  Supreme Court· 1976-05-19· cited 3,533×
• TSC Industries, Inc. v. Northway, Inc.
  Supreme Court· 1976-06-14· cited 2,447×
• Affiliated Ute Citizens of Utah v. United States
  Supreme Court· 1972-06-12· cited 1,751×
• Central Bank of Denver, N. A. v. First Interstate Bank of Denver, N. A.
  Supreme Court· 1994-04-19· cited 1,685×
• Herman & MacLean v. Huddleston
  Supreme Court· 1983-01-24· cited 1,450×
• Sarah B. Shields, Individually and as Representative of All Others Similarly Situated v. Citytrust Bancorp, Inc., George F. Taylor and Irwin Engelman
  Second Circuit· 1994-06-02· cited 1,243×
• Santa Fe Industries, Inc. v. Green
  Supreme Court· 1977-03-23· cited 1,218×
• Securities and Exchange Commission v. First Jersey Securities, Inc. And Robert E. Brennan
  First Circuit· 1996-12-10· cited 896×
• Securities & Exchange Commission v. Capital Gains Research Bureau, Inc.
  Supreme Court· 1963-12-09· cited 780×
• Rothman v. Gregor
  Second Circuit· 2000-07-11· cited 778×
• Kramer v. Time Warner Inc
  Second Circuit· 1991-06-27· cited 603×
• Novak v. Kasaks
  Second Circuit· 2000-06-21· cited 579×
• Beate Bernheim v. Jeffrey Litt
  Second Circuit· 1996-03-25· cited 568×
• In Re Time Warner Inc. Securities Litigation
  Second Circuit· 1993-11-30· cited 541×
• Fed. Sec. L. Rep. P 90,266 Irene L. Wright, on Behalf of Herself and All Others Similarly Situated v. Ernst & Young LLP
  Second Circuit· 1998-08-06· cited 447×
• Shalala v. Guernsey Memorial Hospital
  Supreme Court· 1995-03-06· cited 432×
• Securities & Exchange Commission v. Zandford
  Supreme Court· 2002-06-03· cited 406×
• In Re: Scholastic Corporation Securities Litigation
  Second Circuit· 2001-06-01· cited 332×
• Ilya Boguslavsky v. Martin H. Kaplan and Gusrae, Kaplan & Bruno, Paul T. Russo
  Second Circuit· 1998-10-09· cited 253×

Other cases named In Re Global Crossing, Ltd. Securities Litigation

4 other CourtListener records share this case name.

• In Re Global Crossing, Ltd. Securities Litigation
  S.D. New York· 2003-12-22· cited 83×
• In Re Global Crossing, Ltd. Securities Litigation
  S.D. New York· 2006-06-13· cited 8×
• In Re Global Crossing, Ltd. Securities Litigation
  S.D. New York· 2003-03-24· cited 1×
• In Re Global Crossing Ltd. Securities Litigation
  Judicial Panel on Multidistrict Litigation· 2004-10-22