Legal Opinion
Securities Investor Protection Corp. v. Barbour
Supreme Court of the United States
Decided May 19, 1975No. 73-2055PublishedCited by 285 opinions
1Opinion of the CourtJustice Marshall
The Securities Investor Protection Corp. (SIPC) was established by Congress as a nonprofit membership corporation for the purpose, inter alia, of providing financial relief to the customers of failing broker-dealers with whom they had left cash or securities on deposit. The question presented by this case is whether such customers have an implied private right of action under the Securities Investor Protection Act of 1970 (Act or SIPA), 84 Stat. 1636, 15 U. S. C. § 78aaa et seg., to compel the SIPC to exercise its statutory authority for their benefit.
I
In December 1970 the Securities and…
2Cases cited4 opinions
- Bell v. HoodSupreme Court of the United States · 1946
- J. I. Case Co. v. BorakSupreme Court of the United States · 1964
- Allen v. State Board of ElectionsSupreme Court of the United States · 1968
- National Railroad Passenger Corporation v. National Assn. of Railroad PassengersSupreme Court of the United States · 1974
3Cited by285 opinions
- Cort v. AshSupreme Court of the United States · 1975
- Davis v. PassmanSupreme Court of the United States · 1979
- Cannon v. University of ChicagoSupreme Court of the United States · 1979
- Touche Ross & Co. v. RedingtonSupreme Court of the United States · 1979
- Regents of the University of California v. BakkeSupreme Court of the United States · 1978
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