Simon v. Becherer’s Empirical Analysis

Citation profile

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 2 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “Examples of insufficient particularity are pervasive in plaintiffs’ pleading. The allegation that Chase executives, unnamed, invested in and profited from the Enron LJM2 partnership does not allege that any individual board members did so. The allegation that Chase’s losses were the reckless result of either the individual board members’ knowing approval of the Enron Forward Sale Contracts, or of the Board’s sustained, systematic failure to establish an effective system of internal reporting and controls, is not supported by specific facts showing either that the board members approved of those transactions or the nature of the purported systematic failure to provide appropriate oversight. Plaintiffs’ pleadings never state what the allegedly ignored “myriad red flags” were, other than the Sumitomo transactions and lawsuit, of which there is no allegation that the board members were aware, or what additional measures the board might have taken. Hence the complaint on its face fails to allege, in requisite detail, the substantial likelihood of the directors’ liability.”

   1 later decision quote this exact passage · from the majority
   e.g. 362 F. Supp. 2d 426 - Halpert Enterprises, Inc. Ex Rel. J.P. Morgan Chase & Co. v. Harrison