Term used in pleading to indicate that a person had knowledge of a fact, e.g., that a domestic animal had dangerous propensities.
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The requisite state of mind or degree of culpability that must exist for a defendant to be liable under various statutes. Most notably, for purposes of Section 10(b) of the Securities Exchange Act of 1934, most courts have ruled that the requisite scienter is established if plaintiffs prove the defendants acted either with intent to defraud or with recklessness.