In Re Wet Seal, 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.

• contrasting statements that can be objectively verified from those lacking a standard against which “a reasonable investor could expect them to be pegged”
• taking judicial 23 notice of a document where security fraud plaintiffs’ claims were “predicated upon” the 24 document
• “Plaintiffs do not allege any facts showing that the conclusion [that a valuation allowance should not be taken] ... was improperly made....”
• even in face of 20 straight months of declining store sales, plaintiffs allegations were devoid of facts proving that earlier impairment was required
• “even deliberate GAAP violations do not by themselves establish scienter”

Source: CourtListener parenthetical corpus (CC0).