Legal Opinion
Fed. Sec. L. Rep. P 97,872 Lila A. Miley v. Oppenheimer & Company, Inc., Anthony L. Geller and John W. Hamilton
Court of Appeals for the Fifth Circuit
Decided February 17, 1981No. 79-2099PublishedCited by 170 opinions
1Opinion of the Court
GOLDBERG, Circuit Judge;
For as long as investment brokers have been remunerated on a commission basis, the potential has existed for brokers to excessively trade accounts in an effort to generate fees. Not surprisingly, for almost as long a period of time, 1 civil suits alleging excessive trading or “churning” in violation of the broker’s common law fiduciary duty and the federal securities law have dotted the federal docket.
Despite the fact that judges have been composing churning law for over a decade among the outdoor vendors and the pigeons that line Foley Square, New York (the seat of…
2Cases cited41 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Wilko v. SwanSupreme Court of the United States · 1953
- Colonial Realty Corporation v. Bache & Co.Court of Appeals for the Second Circuit · 1966
- Fed. Sec. L. Rep. P 92,714 Edwin J. Herpich v. Robert H. Wallace, Jack E. LoveCourt of Appeals for the Fifth Circuit · 1970
- Fed. Sec. L. Rep. P 94,437 Hetty Fey v. Walston & Co., Inc., and Robert A. SpiraCourt of Appeals for the Seventh Circuit · 1974
36 more not listed; retrieve them via the Exa API.
3Cited by170 opinions
- Dean Witter Reynolds Inc. v. ByrdSupreme Court of the United States · 1985
- Fisher v. A.G. Becker Paribas Inc.Court of Appeals for the Ninth Circuit · 1986
- Fed. Sec. L. Rep. P 98,777, 11 Fed. R. Evid. Serv. 781 Chemetron Corporation, Cross-Appellant v. Business Funds, Inc., Cross-AppelleesCourt of Appeals for the Fifth Circuit · 1982
- Crookston v. Fire Insurance ExchangeUtah Supreme Court · 1991
- Fed. Sec. L. Rep. P 98,309 Clarance B. Dickinson, a v. Heinold Securities, Inc.Court of Appeals for the Seventh Circuit · 1981
165 more not listed; retrieve them via the Exa API.