Local 295/Local 851 IBT Employer Group Pension Trust & Welfare Fund v. Fifth Third Bancorp.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that “blanket disavowal” of fraud is “insufficient” to avoid the requirements of Rule 9(b)
• asserting that “a plaintiff must show that an economic loss occurred after the truth behind the misrepresentation or omission became known to the market”
• dismissing Section 12(a)(2) claims against underwriters from whom plaintiffs did not allege that they purchased securities
• finding at pleading stage allegations that plaintiff purchased shares from a single underwriter defendant not sufficient to sustain claims against other underwriter defendants
• “Section 12(a)(2) applies only to purchases made through initial offerings and not to aftermarket trading.”
• “Where a Rule 12(b)(6) motion is based on an affirmative defense, the complaint must show on its face that the claim is barred by the defense.”

Source: CourtListener parenthetical corpus (CC0).