Panther Partners Inc. v. Ikanos Communications, Inc.

How courts have described this case

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

• holding that Item 303 imposes “a disclosure duty where a trend, demand, commitment, event or uncertainty is both (1) presently known to management and (2) reasonably likely to have material effects on the registrant's financial condition or results of operations.”
• noting that the issuer “was aware of the ‘uncertainty’ ” of possible returns related to its product’s defects and that such “ ‘known uncertainties’ could materially impact revenues”
• explaining that “Section 11 imposes strict liability on issuers and signatories, and negligence liability on underwriters”
• explaining that when assessing futility, “we consider the proposed amendments along with the remainder of the complaint”
• finding sufficient knowledge where company knew that it would have to accept returns of all product or else take substantial action
• equating the futility standard for granting leave to replead with whether proposed allegations would survive a motion to dismiss

Source: CourtListener parenthetical corpus (CC0).