In Re Midway Games, 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.

• noting that “overly-optimistic statements” and “self-directed corporate puffery” do not give rise to securities fraud because “[t]he market is not so easily duped” (citation omitted)
• finding that pages of “highly specific cautionary statements” were meaningful
• collecting “appellate decisions affirming dismissal at the pleadings stage because the allegedly false or misleading statements were immaterial as a matter of law”
• considering “SEC filings, press releases, and conference calls” in connection with motion to dismiss section 10(b) and 20(a) claims because the “materials” were “referred to” in the complaint and “central to plaintiffs’ claims”
• noting puffery consists of “loosely optimistic statements that are so vague, so lacking in specificity, or so clearly constituting the opinions of the speaker, that no reasonable investor could find them important to the total mix of information available”

Source: CourtListener parenthetical corpus (CC0).