A.S. GOLDMEN & COMPANY, INC. v. NEW JERSEY BUREAU OF SECURITIES, Appellant

I respectfully dissent from the opinion of my colleagues. The majority recognizes New Jersey’s right to regulate that portion of a multi-state transaction occurring within its borders because “one state must prevail” in a dispute that extends beyond its borders and involves residents of other states. Maj. Op. at 787. The approach the majority uses would be helpful to resolving a choice of law dispute, but it is of only limited assistance in adjudicating this dispute under the Commerce Clause. New Jersey does not allege that Goldmen’s sale of Imatec stock involved fraud, and the district court…