Eleventh Circuit -- Findwhat Investor Group v. Findwhat.com et al

Even though there was no change in the stock price after the misleading disclosure, as it was a reinforcement of an already-inflated stock price, the statement is actionable under 10(b).

Not disclosing materially adverse situation while claiming processes are in place to prevent it is actionable under 10(b).  (But here, no scienter.)

CEO's representation of profitability not actionable, even though part of the profits were from click fraud, since it was a statement of the company's general financials.

Findwhat Investor Group v. Findwhat.com et al