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Recklessness
The Definition of "Recklessness" Applied
by a Majority of Federal Circuit Courts in
Securities Fraud Cases
Sundstrand Corp. V. Sun Chemical Corp.,
553 F.2d 1033 (7th Cir. 1977)
"Reckless conduct may be defined as highly
unreasonable [conduct], involving not merely
simple, or even inexcusable negligence, but an
extreme departure from the standards of ordinary
care, and which presents a danger of misleading
buyers or sellers that is either known to the
defendant or is so obvious that the actor must
have been aware of it."
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