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8 canonical passages across 8 cases, quoted by 204 opinions in total. These passages cluster together because the same opinions keep quoting them side by side: they state parts of one doctrine. The anchor passage is from Rombach v. Chang.
| # | Case | Flag | Canonical passage | Citers |
|---|---|---|---|---|
| 1 | Rombach v. Chang Anchor | green | “must do more than say that the statements ... were false and misleading; they must demonstrate with specificity why and how that is so.” | 73 |
| 2 | Matrixx Initiatives, Inc. v. Siracusano | green | “that the defendant made a statement that was 'misleading as to a material fact.” | 37 |
| 3 | In Re: Scholastic Corporation Securities Litigation | green | “defendants knew facts or had access to non-public information contradicting their public statements” | 28 |
| 4 | Halperin v. Ebanker usa.com, usa.C Inc. | green | “by showing, for example, that the cautionary language did not expressly warn of or did not directly relate to the risk that brought about plaintiffs' loss.” | 22 |
| 5 | Tongue v. Sanofi | green | “the speaker omits information whose omission makes the statement misleading to a reasonable investor.” | 18 |
| 6 | Podany v. Robertson Stephens, Inc. | green | “the second circuit has firmly rejected this 'fraud by hindsight' approach.” | 10 |
| 7 | In Re ProShares Trust Sec. Litig. | green | “a meaningful pleading obstacle.” | 8 |
| 8 | In Re AstraZeneca Securities Litigation | green | “the key, of course, is the honest belief of the management in the truth of information issued to the public.” | 8 |
A red or yellow flag on a member means the underlying case has negative treatment: for those, check the case page before relying on the passage.