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Insider trading is evidence of scienter in a Rule 10b-5 claim only where the trading was unusual or suspicious.
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Contributed in 2008 by David Gold
Law
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Commerce, labor, particular activities & industries
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Securities
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Liability & enforcement
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Fraud claims
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SEC Rule 10b-5
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Procedure
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District court
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Pleadings
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Pleading standards
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Special issues
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Pleading scienter
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Private civil actions seeking damages
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Plead w/ particularity allegations supporting strong inference
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Strength
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Strength of particular inferences
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Against defendant
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From nature of statements &/or actions
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Insider trading
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Only if unusual or suspicious: Insider trading is evidence...

The commonality requirement of Fed. R. Civ. P. 23(a) is applied permissively in the context of a claim under Rule 10b-5.
A corporation or other principal is liable for statements by agents who have the apparent authority of the principal to make them.
In the context of a 10b-5 action, the allegation of direct involvement within the group is crucial to the operation of the group pleading doctrine.