the falsity of an affirmative misstatement, scienter
inference" standard for scienter
established by the PLRSA, "an
is defined as "[a] degree of knowledge that makes a person legally responsible for the consequences of his or her act or omission.
Third, a liability system for top officials requiring a showing of scienter
significantly expands the range of facts that will be in contention in litigation because it introduces the additional issue of who knew what.
27) Congress designed the PSLRA to limit frivolous securities lawsuits by heightening the standard for pleading scienter
, the Rule 10b-5 culpability element.
Interestingly, both Commil and the United States as amicus argued that neither a good faith belief in invalidity nor non-infringement would negate the scienter
requirement for inducement because the inducer need not have knowledge that the induced acts constitute infringement.
As noted above, scienter
, or the defendants' state of mind, is an element of a securities-fraud claim.
There is no scienter
requirement regarding the harm the
27) In more recent cases, where the defendant's mental state was at issue, a number of courts concluded that scienter
was not required.
There is a proportionate liability scheme: where there are multiple defendants, such as an auditor and the audited company, each defendant is liable only for the portion of the damages corresponding to that defendant's relative responsibility for those damages, except that defendants who meet an elevated scienter
requirement in misrepresentation have joint and several liability with all other defendants who meet that scienter
common issue in FCA cases that can implicate both the scienter
however, that there is both a mens rea and scienter
requirement for the