In Re Level 3 Communications, 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.

• holding that company officers made i~naterial1y false statements but investors failed to establish strong inference of scienter
• disapproving “plaintiff’s tendency to excerpt long passages including statements and, to a large degree, leave the Court to the task of teasing out which specific statements [we]re at issue.” (alterations and quotations omitted)
• finding as immaterial “defendants’ general, forward-looking expressions of confidence in future integration progress”
• “[G]eneral motives for management to further the interests of the corporation fail to raise an inference of scienter.”
• statements that a project was “ahead of plan” and “under budget” had a “basis in objective and verifiable fact”
• statements that a project was “ahead of plan” and “under budget” had a “basis in objective and verifiable fact”

Source: CourtListener parenthetical corpus (CC0).