Arnlund v. Deloitte & Touche LLP’s Empirical Analysis

Citation profile

1 district · 4 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 21 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “When making the assessment whether scienter has been adequately pleaded, it is prudent to keep in mind that the PSLRA does not require a plaintiff to prove his case in his complaint. And, it is appropriate to recall that the heightened standard of pleading scienter was meant simply to prevent strike suits and other abuses that had arisen in securities fraud litigation.... Plaintiff generally must frame the facts respecting the defendant’s mental state (i.e., the scien-ter element of the claim) without the benefit of discovery, and therefore, most often, allegations about a defendant’s culpable state of mind must be drawn from limited state of mind evidence augmented by circumstantial facts and logical inferences.”

   1 later decision quote this exact passage · from the majority
   e.g. 392 F. Supp. 2d 267 - Carlson v. Xerox Corp.

2. “To use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.”

   1 later decision quote this exact passage · from the majority
   e.g. 392 F. Supp. 2d 267 - Carlson v. Xerox Corp.

3. “there would have been no market for the stock at the artificially high price.”

   1 later decision quote this exact passage · from the majority
   e.g. 336 F. Supp. 2d 310 - In Re WorldCom, Inc. Securities Litigation