Plumbers & Steamfitters Local 773 Pension Fund v. Canadian Imperial Bank of Commerce

How courts have described this case

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

• explaining that “knowledge of a general economic trend does not equate to harboring a mental state to deceive, manipulate, or defraud”
• dismissing claim that defendant “should 28 have recorded much larger write-downs earlier than it 29 did”
• “Courts in this Circuit have long held that accusations founded on nothing more than a defendant’s corporate position are entitled to no weight.”
• “Plaintiffs should, but do not, provide specific instances in which Defendants received information that was contrary to their public declarations.”
• plaintiff “must specifically identify the reports or statements that are contradictory to the statements made” (emphasis in original, internal quotation marks omitted)
• “broad references to raw data” insufficient to establish that defendants should have known particular information

Source: CourtListener parenthetical corpus (CC0).