Legal Opinion
Biben v. Card
District Court, W.D. Missouri
Decided February 25, 1992No. 84-0844-CV-W-6, 84-0846-CV-W-6 and 84-0978-CV-W-6PublishedCited by 6 opinions
1Opinion of the Court
ORDER
SACHS, Chief Judge.
This class action alleges securities fraud based on Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j. Defendants Redd and Jallow seek to require absent class members to submit a statement of their claims (the Claims Motion), while Jallow moves to bifurcate the trial into a liability phase and a proof-of-claim phase and to reserve the award of damages to the proof-of-claim phase (the Damages Motion).
The court will first address the Damages Motion. In a securities fraud case, actual damages are measured by calculating the plaintiff’s out-of-pocket…
2Cases cited20 opinions
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Phillips Petroleum Co. v. ShuttsSupreme Court of the United States · 1985
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Huddleston v. Herman & MacLeanCourt of Appeals for the Fifth Circuit · 1981
- Sirota v. Solitron Devices, Inc.Court of Appeals for the Second Circuit · 1982
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3Cited by6 opinions
- In Re Vivendi Universal, S.A. Securities LitigationDistrict Court, S.D. New York · 2011
- Cotton v. Gaylord ContainerLouisiana Court of Appeal · 1997
- Waters v. International Precious Metals Corp.District Court, S.D. Florida · 1996
- In Re California Micro Devices Securities LitigationDistrict Court, N.D. California · 1997
- McPhail v. First Command Financial Planning, Inc.District Court, S.D. California · 2008
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