Suna v. Bailey Corp.

How courts have described this case

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

• stating that plaintiff must plead specific facts that make it reasonable to believe that defendant knew statement was materially false or misleading
• noting that “[a]nalysts and arbitrageurs rely on facts in determining the value of a security, not mere expressions of optimism from company spokesmen”
• holding that, where a plaintiff alleges that the defendant should be held liable for the misrepresentations of a third party, he must plead with particularity those statements made by the defendant to the third party which induced him or her to make the misrepresentations
• affirming dismissal where plaintiffs “offerfed] no factual support for their conclusory allegations that [defendant] knew” of adverse information
• guoting Shields v. Citvtrust Bancorp, Inc., 25 F.3d 1124, 1127 (2d Cir. 1994)
• no reasonable investor would rely on statement that “the company believes” it will have certain favorable “opportunities”

Source: CourtListener parenthetical corpus (CC0).