Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
An Empirical Examination Of Scienter Pleading In Rule 10b-5 Claims Against External Auditors, Robert A. Prentice
An Empirical Examination Of Scienter Pleading In Rule 10b-5 Claims Against External Auditors, Robert A. Prentice
Robert A. Prentice
Pleading requirements are the key to access to the courthouse. Nowhere is this more true than with Rule 10b-5 class action securities fraud claims where provisions of the Private Securities Litigation Reform Act of 1995 impose special pleading burdens upon plaintiffs regarding the scienter element and bar them from discovery when defendants file a motion to dismiss. This article begins with a doctrinal history of the scienter element of a Rule 10b-5 claim which indicates that many key legal questions remain unsettled and that application of legal rules to specific factual allegations regarding a particular type of defendant—external auditors—is extraordinarily …