Sarah B. Shields, Individually and as Representative of All Others Similarly Situated v. Citytrust Bancorp, Inc., George F. Taylor and Irwin Engelman

How courts have described this case

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

• holding that plaintiff did not adequately allege recklessness where “allegations do not say ... that the [defendant’s] disclosures were inconsistent with current data”
• holding that factual assertions coupled with conclu-sory allegations that defendants “knew or should have known” or “knew but concealed” are “so broad and conclusory as to be meaningless” (citation omitted)
• concluding that the plaintiffs frequent conclusory allegations that defendants “knew but concealed” material facts, or “knew or were reckless in not knowing” other things do not satisfy the requirements of 9(b)
• ruling that Plaintiffs’ pleadings “which couple[d] a factual statement with a conclusory allegation of fraudulent intent” did not meet the requirement of Rule 9(b).”
• recognizing that fraudulent intent may be inferred from facts “constituting strong circumstantial evidence of conscious misbehavior or recklessness”
• holding that allegations that defendants’ predictions turned out to be false and overly optimistic did not 7 support an inference of fraud at the time the predictions were made

Source: CourtListener parenthetical corpus (CC0).