Legal Opinion
Herbert S. GLICK v. Joseph F. CAMPAGNA and Washington Marketing & Financial, Inc., Appellants
Court of Appeals for the Third Circuit
Decided January 3, 1980No. 79-1196PublishedCited by 37 opinions
1Opinion of the Court
OPINION OF THE COURT
WEIS, Circuit Judge.
In this securities case, the plaintiff alleged that he sold his stock in a close corporation for an inadequate price because of misrepresentations by the only other shareholder. Finding violations of rule 10b-5 as well as fraud under state law, the district court ordered defendant to pay damages of a “rescissory nature.” The award consisted of one-half the company’s revenues, less certain expenses, together with a provision for similar payments in the future. We conclude that a proper remedy would have been rescission coupled with restitution in an…
2Cases cited11 opinions
- Fed. Sec. L. Rep. P 96,048 Milton E. Dupuy v. Clarence O. Dupuy, Jr.Court of Appeals for the Fifth Circuit · 1977
- Hutton v. Johns Hopkins UniversitySupreme Court of the United States · 1974
- Fed. Sec. L. Rep. P 94,302 the Johns Hopkins University v. William E. HuttonCourt of Appeals for the Fourth Circuit · 1974
- Thomas v. Duralite Co.Court of Appeals for the Third Circuit · 1975
- Michael Churma v. United States Steel CorporationCourt of Appeals for the Third Circuit · 1975
6 more not listed; retrieve them via the Exa API.
3Cited by37 opinions
- Mayer v. MylodCourt of Appeals for the Sixth Circuit · 1993
- Mayer v. MylodCourt of Appeals for the Sixth Circuit · 1993
- SHARP, Stanley L. v. COOPERS & LYBRAND, AppellantCourt of Appeals for the Third Circuit · 1981
- Lokay v. Lehigh Valley Cooperative Farmers, Inc.Supreme Court of Pennsylvania · 1985
- Fed. Sec. L. Rep. P 98,656 Arthur Golden and Gladys Golden v. Anthony GarafaloCourt of Appeals for the Second Circuit · 1982
32 more not listed; retrieve them via the Exa API.