In Re Moody's Corp. 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 pled sufficient facts to state a claim that the defendant’s representations of independence and ratings integrity were fraudulent
• finding that plaintiff failed to plead control person liability when it failed to allege sufficient facts showing scienter of certain individual defendants
• requiring that the plaintiff plead that the “alleged control person [ ] actively participate^] in some meaningful sense (‘culpable participation’) in the fraud perpetrated by that entity”
• explaining that \a 'company's misleading statements about the source of its revenue do not make the company's statements of the revenue figures misleading' \ (citation omitted)
• finding that, for the purposes of corporate liability, \the individual making an alleged misstatement and the one with scienter do not have to be one and the same\
• finding allegations that individual defendants were high-ranking officers were sufficient to give the defendants fair notice of the grounds for the claims against them

Source: CourtListener parenthetical corpus (CC0).