Pacente v. United States

How courts have described this case

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

• holding that “once all predicate § 10(b) claims are dismissed, there are no allegations upon which § 20(a) liability can be based.”
• reversing the dismissal of the complaint and granting the plaintiff an opportunity to state in the complaint that the necessary information is held by the defendant
• explaining that Rule 9(b) has stringent pleading requirements, but “the courts should be ‘sensitive’ to the fact that application of the Rule prior to discovery ‘may permit sophisticated defrauders to successfully conceal the details of their fraud’” (citation omitted)
• directing plaintiff to amend complaint and stating “plaintiff should rearrange the existing allegations into discrete units that are, standing alone, each capable of evaluation under the [relevant] legal principles”
• applying Rule 9(b) to Section 11 and 12(2) claims “grounded in fraud”
• where defendant has put adequacy of loan loss reserves “in play” by issuing statements characterizing them as adequate, such statements may be actionable

Source: CourtListener parenthetical corpus (CC0).