J. J. Blonien & Associates, Inc. v. Community Newspapers, Inc.
J. J. Blonien & Associates, Inc. v. Cmty. Newspapers, Inc., 498 U.S. 941 (1990)
Opinion of the Court
Text extracted by OCR from a scanned original; check the original for exact wording.
Ct. App. Wis. Certio-rari denied.
How later courts describe this case
Explanatory parentheticals written by citing courts — 24 in all; the most informative distinct ones are shown.
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(stating that pleading with particularity “[m]eans the who, what, when, where, and how: the first paragraph of any newspaper story.”)
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(requiring the pleader to provide the equivalent of a “first paragraph of any newspaper story”)
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(“Fees for two years' audits could not approach the losses E & W would suffer from a perception that it would muffle a client's fraud.”)
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(accountant under no legal duty to blow whistle on client upon discovery that client was in financial trouble)
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(investors must point to some fact suggesting that [the] difference [between favorable projections and actual health] is attributable to fraud)
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("People sometimes act irrationally, but indulging ready inferences of irrationality would too easily allow the inference that ordinary business reverses are fraud”)
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("[T]he complaint ... must afford a basis for believing that plaintiffs could prove scienter.")
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(securities fraud claim not sufficiently pled when based solely upon a company’s rosy projections followed by less favorable predictions.)
Cited by 167 cases
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- Ivan N. Schatz Joann B. Schatz v. Mark E. Rosenberg Mer Enterprises, Incorporated Stephen Jaeger Weinberg & Green
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