Loreley Financing (Jersey) No. 3 Ltd. v. Wells Fargo Securities, LLC

How courts have described this case

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

• holding that \identification of the group suffices to meet the particularity of attribution required by Rule 9(b)\ where specific misrepresentations in offering documents are at issue and defendants acted collectively in making the alleged misstatements
• recognizing that where plaintiffs did not allege a misrepresentation, scienter would be inadequately pleaded
• holding that a plaintiff cannot “merely recite[]” admissions in a consent order
• holding that, by not allowing plaintiffs to submit a new pleading attempting to correct any deficiencies, the district court “violated the liberal spirit of Rule 15” (quoting Williams v. Citigroup, Inc., 659 F.3d 208, 214 (2d Cir. 2011))
• reaffirming that denying leave to amend is proper on the grounds of “undue delay, bad faith, dilatory motive, and futility”
• reaffirming that denying leave to amend is proper on the grounds of “undue delay, bad faith, dilatory motive, and futility”

Source: CourtListener parenthetical corpus (CC0).