Legal Opinion
In Re Credit Acceptance Corp. Securities Litigation
District Court, E.D. Michigan
Decided April 23, 1999No. 98-70417PublishedCited by 21 opinions
1Opinion of the Court
OPINION & ORDER STRIKING AFFIDAVIT AND GRANTING DEFENDANTS’ MOTION TO DISMISS
EDMUNDS, District Judge.
This matter comes before the Court on Defendants’ motion to dismiss and Defendants’ motion to strike the affidavit of Michele M. Stanton. As discussed below, the Complaint is insufficient to state a claim for securities fraud under the heightened pleading standard applicable in this area of law because it fails to adequately allege scienter. Therefore, the motion to dismiss is GRANTED. Likewise, the motion to strike the affidavit is GRANTED.
I. The Counts and the Parties
A. Complaint Alleges Two…
2Cases cited32 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Central Bank of Denver, N. A. v. First Interstate Bank of Denver, N. A.Supreme Court of the United States · 1994
- Aaron v. Securities & Exchange CommissionSupreme Court of the United States · 1980
- Garcia v. United StatesSupreme Court of the United States · 1985
27 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- D.E. & J Ltd. Partnership v. ConawayDistrict Court, E.D. Michigan · 2003
- In Re Theragenics Corp. Securities LitigationDistrict Court, N.D. Georgia · 2000
- In Re Sunterra Corp. Securities LitigationDistrict Court, M.D. Florida · 2002
- In Re Alamosa Holdings, Inc. Securities LitigationDistrict Court, N.D. Texas · 2005
- In Re SCB Computer Technology, Inc., Securities LitigationDistrict Court, W.D. Tennessee · 2001
16 more not listed; retrieve them via the Exa API.