Legal Opinion
Transamerica Mortgage Advisors, Inc. v. Lewis
Supreme Court of the United States
Decided November 13, 1979No. 77-1645PublishedCited by 1,465 opinions
1Opinion of the CourtJustice Stewart
The Investment Advisers Act of 1940, 15 U. S. C. § 80b-1 et seq., was enacted to deal with abuses that Congress had *13found to exist in the investment advisers industry. The question in this case is whether that Act creates a private cause of action for damages or other relief in favor of persons aggrieved by those who allegedly have violated it.
The respondent, a shareholder of petitioner Mortgage Trust of America (Trust), brought this suit in a Federal District Court as a derivative action on behalf of the Trust and as a class action on behalf of the Trust’s shareholders. Named as defendants…
2Cases cited19 opinions
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3Cited by1,465 opinions
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