Legal Opinion
Field v. Trump
Court of Appeals for the Second Circuit
Decided June 30, 1988No. 419, Docket 87-7578PublishedCited by 80 opinions
1Opinion of the Court
WINTER, Circuit Judge:
The legal issues in this appeal concern the meaning of the so-called “best-price rule” of Section 14(d)(7) of the Securities Exchange Act of 1934, 15 U.S.C. § 78n(d)(7) (1982), and the disclosure obligations of a publicly held company under that Act.
Accepting the allegations of the complaint as true, this dispute arises from a leveraged buy-out in which defendants Julius and Eddie Trump, through corporations they owned and controlled, commenced a tender offer at a price of $22.50 per share for shares of defendant Pay’n Save Corporation, a Washington state corporation.…
2Cases cited30 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Cort v. AshSupreme Court of the United States · 1975
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Santa Fe Industries, Inc. v. GreenSupreme Court of the United States · 1977
- Piper v. Chris-Craft Industries, Inc.Supreme Court of the United States · 1977
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3Cited by80 opinions
- Collins v. Morgan Stanley Dean WitterCourt of Appeals for the Fifth Circuit · 2000
- Venture Associates Corporation, a Tennessee Corporation v. Zenith Data Systems Corporation, a Delaware CorporationCourt of Appeals for the Seventh Circuit · 1993
- Kramer v. Time Warner IncCourt of Appeals for the Second Circuit · 1991
- Craftmatic Securities Litigation v. KraftsowCourt of Appeals for the Third Circuit · 1989
- Gilbert v. El Paso Co.Supreme Court of Delaware · 1990
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