Procedural issues in 10b-5 actions in the federal district courts.

Ezra Charitable Trust v. Tyco International, 466 F.3d 1, 13 (1st Cir. 2006) (affirming dismissal for failure to plead scienter, applying standard more burdensome for plaintiff that that later adopted by the Supreme Court in ''Tellabs, Inc. v. Makor Issues & Rights, Ltd.'', 127 S.Ct. 2499, 2504 (2007) ).Accounting violations unconnected to the alleged fraud do not satisfy the requirement of the Private Securities Litigation Reform Act of 1995 that the plaintiff plead facts supporting a strong inference of scienter.

Ottmann v. Hanger Orthopedic Group, Inc., 353 F.3d 338, 343-44 (4th Cir. 2003).To satisfy the scienter element in a claim brought under Rule 10b-5, the plaintiff must show that the speaker acted with intent or a "severe recklessness."

Mansbach v. Prescott, Ball & Turben, 598 F.2d 1017, pin? (6th Cir. 1979).A statement about the future is actionable under Rule 10b-5 only if it was false when stated.