Rothman v. Gregor, 220 F.3d 81, 90 (2d Cir.2000) (“The fact that management’s optimism about a prosperous future turned out to be unwarranted is not circumstantial evidence of conscious fraudulent behavior or recklessness: People in charge of an enterprise are not required to take a gloomy, fearful or defeatist view of the future; subject to what current data indicates, they can be expected to be confident about their stewardship and the prospects of the business that they manage.” (quotations omitted)). 85 . 15 U.S.C. § 78u-5(c)(l)(A). 86 . In re Nortel Networks Corp. Sec. Litig., 238 F.Supp.2d 613, 629 (S.D.N.Y.2003). Accord Gabriel Capital, L.P. v. NatWest Fin., Inc., 122 F.Supp.2d 407, 419 (S.D.N.Y.2000) (observing that the bespeaks caution doctrine "doe 66, 292 (S.D.N.Y.2006) (<HOLDING>). 92 . Kalnit v. Eichler, 264 F.3d 131, 139 (2d
holding that plaintiffs may plead on information and belief if matters are not within their personal knowledge holding that plaintiffs need only allege that defendants provided information to the securities analysts upon which the reports were based holding no scienter had been alleged where the plaintiffs failed to allege that the defendants had access to information that specifically informed them of the alleged flaws in the preparation of pxres loss estimate reports holding that there was no inference of scienter based on defendants knowledge of facts or failure to monitor information because plaintiffs did not specifically identified any reports or statements that existed or would have come to light in a reasonable investigation that would have demonstrated the falsity of the allegedly misleading statements holding that plaintiffs must specifically allege defendants knowledge of facts or access to information contradicting their public statements