Public Pension Fund Group v. KV PHARMACEUTICAL CO.

How courts have described this case

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

• finding that the plaintiffs’ allegations that corporate officers were aware of misrepresentations and omissions that a company made is insufficient to state a claim for scheme liability
• explaining that “[t]he issuance of a Form 483 represents a risk,” not a certainty, “that the FDA may take corrective action against a company” (emphasis added)
• affirming district court, which concluded “that misrepresentation claims under Rule 10b-5(b) cannot simply be recast as scheme liability claims under Rules 10b-5(a) and (c
• affirming dismissal of scheme liability claim where plaintiffs failed to allege with specificity what conduct defendants engaged in beyond knowing of the misrepresentations and omissions
• “Claims brought under Rules 10b-5(a) and (c) are generally referred to as ‘scheme liability’ claims.”
• “We join the Second and Ninth Circuits in recognizing a scheme liability claim must be based on conduct beyond misrepresentations or omissions actionable under Rule 10b—5(b).”

Source: CourtListener parenthetical corpus (CC0).