This section is also encouraging. The court can us
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1. Consideration of Documents outside the Pleadings.
One of the developments that has greatly assisted defendants at the motion to dismiss stage has been the courts’ willingness to consider documents outside the pleadings. This is critical because “[w]ere courts to refrain from considering such documents, complaints that quoted only selected and misleading portions of such documents could not be dismissed under Rule 12(b)(6) even though they would be doomed to failure.”16 In In Re Omnicare, Inc. Sec. Litig., 2014 U.S. App. LEXIS 19326 (Oct. 10, 2014), in which the Sixth Circuit affirmed the dismissal of a securities class action complaint, the court explained, “If a plaintiff references or quotes certain documents, or if public records refute a plaintiff’s claim, a defendant may attach those documents to its motion to dismiss, and a court can then consider them in resolving the Rule 12(b)(6) motion without converting the motion to dismiss into a Rule 56 motion for summary judgment.” It further stated, “Fairness and efficiency require this practice.” It cited Fed. R. Evid. 201(b), which states that a court may judicially notice a fact “that is not subject to reasonable dispute because it: i) is generally known within the trial court’s territorial jurisdiction, or ii) can be accurately and readily determined from sources whose accuracy cannot reasonably be questioned.” On the other hand, it denied plaintiff’s request to have the court take judicial notice of a number of documents (for example, the company’s audit committee charter and the company’s corporate integrity agreement) that the court stated plaintiffs had not referred to in their complaint and that plaintiffs were improperly seeking to introduce for the truth of the statements.