Smith v. Circuit City Stores, Inc.

How courts have described this case

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

• announcing that “[p]leading ‘fraud by hindsight,’ or Monday morning quarterbacking of this sort, is insufficient pleading under [PSLRA]”
• dismissing plaintiffs’ attempt to establish defendants’ scienter because of their status as senior officers, access to confidential and proprietary information, and interaction with other executives
• discrediting plaintiffs’ attempt to show scienter through defendants’ access to confidential information, status as senior officers, and interactions with other executives
• dismissing allegations of accounting fraud under the PSLRA where plaintiffs failed to challenge independent auditors’ opinion that a company’s financial statements complied with GAAP
• finding no misrepresentation through omission when allegedly omitted information was disclosed by company in, inter alia, public SEC filings
• dismissing an attack on loss of revenues where a plaintiff “fail[ed] to allege ... when there was a reasonable possibility that an additional loss may have been incurred or when such a loss was probable and estimable”

Source: CourtListener parenthetical corpus (CC0).