scienter


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Scienter

In law, knowledge of wrongness of an act or the danger of a situation. A person with scienter may be held legally liable in criminal or civil cases.

scienter

Knowledge regarding the wrongful nature of an act. Some criminal or civil penalty statutes require scienter, and some do not. For example, the shareholders of a small corporation are liable for the 100 percent IRS penalty if the treasurer fails to pay over employee withholding taxes,whether or not the shareholders knew of the practice.One may be liable for discriminatory housing advertising, without a showing of scienter, if ads show all-white human models and target advertising media not likely to be viewed by nonwhites.

References in periodicals archive ?
(198) However, even before the PSLRA was passed, the Second Circuit did not permit scienter to be established through allegations that a corporate officer wanted to maintain the privileges of his job (199) or increase his incentive-based compensation.
First was the fact that in the court's eyes, the existence of a scientific debate about the health and safety concerns of Vioxx did not give rise to a strong inference of scienter to trigger the statute of limitations.
source: regulated parties' fear of falsely positive scienter
Many, if not most, of the horror stories spawned by applications of zero-tolerance disciplinary rules involve questions of scienter. That is not to say that failure to acquaint oneself with pertinent rules forgives the offense.
However, it is not clear that the companies that simply did business with South Africa, had the requisite scienter for aiding and abetting liability.
The Hopper and Totten approaches both have the effect of imposing an additional scienter element.
However, "Genocea's own disclosure of the negative twelve month viral showing weakens any showing of scienter," Saris wrote.
But structurally, market manipulation is based on the trader's scienter and the harm she inflicts on the market-both of which are necessary.
The court examined the scienter of misprision, concluding that affirmative concealment requires an intentional act of deceit based on its holding in Patel v.
Tipper liability may attach if the breach of duty constitutes deceptive conduct under Section 10(b) and Rule 10b-5 and the tipper has the requisite scienter; tippee liability may follow if the tippee is deemed to inherit that duty from the tipper, breaches the duty by trading or re-tipping, and has the requisite scienter.
In the months following the Escobar decision, numerous courts have focused on the "materiality" requirement for FCA allegations and scienter showings.
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