In Re: Scholastic Corporation 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 “post-class period data may be relevant to determining what a defendant knew or should have known during the class period”
• holding that a total of $24 million in charges for book returns “undermines, at the pleading stage, the argument that the defendants were unaware” of any increase in returns
• holding that a large write down supports a finding of recklessness
• finding that motive was sufficiently pleaded where allegedly fraudulent statements were followed by defendant selling 80 percent of his holdings for a profit
• noting that the portion of stockholdings sold is a significant factor concerning motive
• finding that information regarding book returns was adequately alleged to be material where defendant’s stock rating was boosted in response to misleading representations and analysts’ response was sharply critical once information was released

Source: CourtListener parenthetical corpus (CC0).