Pleading Scienter In Securities Fraud Class Actions
This article analyzes overlapping issues in the pleading of scienter that were decided in recent rulings on 12(b)(6) motions brought to dismiss securities fraud class action claims.
The analysis revolves around four cases, each of which features a defendant whose business was involved in subprime mortgage financing — typically loan origination and debt securitization. The plaintiffs in each case alleged violations...
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