Legal Opinion
Lean v. Reed
Indiana Supreme Court
Decided November 27, 2007No. 49S02-0701-CV-14PublishedCited by 18 opinions
1Opinion of the Court
On Petition To Transfer from the Indiana Court of Appeals, No. 49A02-0602-CV-126
BOEHM, Justice.
The Indiana Securities Law creates liability of a director of a corporation for violations of the requirement that the corporation’s securities be registered and for misrepresentations and omissions of material facts in the sale of its securities. The director may establish a defense that in the exercise of reasonable care he did not know and could not have known of the violations. In most cases reasonable care is a fact issue. However, where it is undisputed that the director had no basis other…
2Cases cited18 opinions
- ATSI Communications, Inc. v. Shaar Fund, Ltd.Court of Appeals for the Second Circuit · 2007
- Fed. Sec. L. Rep. P 93,959 Frank Lanza, Jr. v. Drexel & Co., Theodore J. Kircher and Christie F. VitoloCourt of Appeals for the Second Circuit · 1973
- Feit v. Leasco Data Processing Equipment CorporationDistrict Court, E.D. New York · 1971
- Gunkel v. Renovations, Inc.Indiana Supreme Court · 2005
- Hines v. Data Line Systems, Inc.Washington Supreme Court · 1990
13 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Tri-Etch, Inc. v. Cincinnati Insurance Co.Indiana Supreme Court · 2009
- Harness v. SchmittIndiana Court of Appeals · 2010
- Atterholt v. HerbstIndiana Supreme Court · 2009
- Carey v. INDIANA PHYSICAL THERAPY, INC.Indiana Court of Appeals · 2010
- Jackson v. ScheibleIndiana Supreme Court · 2009
13 more not listed; retrieve them via the Exa API.