Legal Opinion
Harnett v. Ryan Homes, Inc.
Court of Appeals for the Third Circuit
Decided April 29, 1974No. Nos. 73-1714, 73-1790PublishedCited by 15 opinions
1Opinion of the Court
OPINION OF THE COURT
ADAMS, Circuit Judge.
The principle issue presented by this case relates to the operation of the inveterate legal concepts of materiality and reliance in the context of a suit under Section 10(b) of the Securities and *833Exchange Act of 19341 and Rule 10b-5 of the Securities and Exchange Commission.2
This action was brought by William H. Harnett, a former shareholder-employee of a closely-held corporation, Ryan Homes, Inc., against Edward Ryan, the chief officer and majority shareholder of the corporation, and the corporation. The purported transgressions prompting this…
2Cases cited5 opinions
- Affiliated Ute Citizens of Utah v. United StatesSupreme Court of the United States · 1972
- Mills v. Electric Auto-Lite Co.Supreme Court of the United States · 1970
- List v. Fashion Park, Inc.Court of Appeals for the Second Circuit · 1965
- Rochez Bros. v. RhoadesCourt of Appeals for the Third Circuit · 1973
- Harnett v. Ryan Homes, Inc.District Court, W.D. Pennsylvania · 1973
3Cited by15 opinions
- Thomas v. Duralite Co.Court of Appeals for the Third Circuit · 1975
- Thomas v. Duralite Company, Inc.Court of Appeals for the Third Circuit · 1975
- McLean v. AlexanderDistrict Court, D. Delaware · 1976
- Staffin v. GreenbergDistrict Court, E.D. Pennsylvania · 1981
- Fed. Sec. L. Rep. P 96,058 Lawrence Rosenbloom v. Adams, Scott & Conway, Inc.Court of Appeals for the Ninth Circuit · 1977
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