In Re Security Capital Assurance, 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.

• statement that a corporation employs conservative underwriting policies amounts to puffery that is not actionable
• “Plaintiffs’ broad allegations that Defendants received and were aware of information contradicting their public statements because they held management roles is not enough to allege scienter.”
• no scienter where “[plaintiffs’ own allegations reveal that ... [defendants were woefully unaware of the true risk presented by their investment in CDOs, and did not know the facts or have the information necessary to know that then-statements might be inaccurate”

Source: CourtListener parenthetical corpus (CC0).