Schmidt v. Fleet Bank

How courts have described this case

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

• stating that involvement in an enterprise is insufficient under Reves v. Ernst & Young, 507 U.S. 170, 113 S.Ct. 1163, 122 L.Ed.2d 525 (1998)
• finding that association-in-fact enterprise was not adequately pled where plaintiffs failed to allege “any kind of chain of command or functional integration, as is typical of classic RICO enterprises,” and merely alleged that the defendants participated in a scheme to defraud the plaintiffs
• “[bjecause the mere assertion of a RICO claim ... has an almost inevitable stigmatizing effect on those named as defendants, ... courts should strive to flush out frivolous RICO allegations at an early stage of the litigation”
• “If the purpose of the entity or the association in fact was to defraud the investors, then it has no continuity or distinct structure beyond the alleged conspiracy. In short, the enterprise in this case likely would not exist were the predicate acts removed from the equation.”

Source: CourtListener parenthetical corpus (CC0).