Legal Opinion
Securities & Exchange Commission v. Shanahan
Court of Appeals for the Eighth Circuit
Decided July 19, 2011No. 10-1820PublishedCited by 37 opinions
1Opinion of the Court
LOKEN, Circuit Judge.
The Securities and Exchange Commission (SEC) brought this civil action against Michael Shanahan Jr., alleging that, as an outside director of Engineered Support Systems, Inc. (“ESSI”), he violated numerous federal securities laws by participating in the grant of backdated, “in-the-money” stock options to ESSI officials including his father, CEO Michael Shanahan Sr. At the close of the SEC’s case in chief after eight-and-one-half days of trial, the district court 1 granted Shanahan Jr.’s Rule 50(a)(1) motion for judgment as a matter of law, concluding that the SEC had…
2Cases cited23 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- TSC Industries, Inc. v. Northway, Inc.Supreme Court of the United States · 1976
- Matrixx Initiatives, Inc. v. SiracusanoSupreme Court of the United States · 2011
- Aaron v. Securities & Exchange CommissionSupreme Court of the United States · 1980
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3Cited by37 opinions
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- United States Securities & Exchange Commission v. QuanCourt of Appeals for the Eighth Circuit · 2016
- Securities & Exchange Commission v. DasCourt of Appeals for the Eighth Circuit · 2013
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