Toledo Pipe-Threading Mach. Co. v. Federal Trade Commission

How courts have described this case

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

• finding disputed issues of material fact as to whether underwriters' participation in drafting an allegedly misleading letter to the SEC violated section 10(b)
• auditing that is \no audit at all\ shows scienter
• affirming summary judgment where prospectus may not have accurately reported revenue with respect to a specific account, but accounting firm had reviewed the company’s account documentation, confirmed accounts with outside vendors, and reviewed the collections progress
• ”[T]he analysis of [the Section 11 and Section 12 defenses] on summary judgment is the same.”
• evidence that agreements were poorly documented, transactions were risky, management was under pressure, and that the auditor obtained only oral confirmations of some agreements was insufficient to show scienter against outside auditor
• summary judgment is generally inappropriate for questions of reasonableness

Source: CourtListener parenthetical corpus (CC0).