Legal Opinion
Kenneth A. Carr v. Cigna Securities, Inc., and Cigna Individual Financial Services Co.
Court of Appeals for the Seventh Circuit
Decided September 6, 1996No. 95-4006PublishedCited by 62 opinions
1Opinion of the Court
POSNER, Chief Judge.
Kenneth Carr was a professional basketball player when in 1984 he paid CIGNA Financial Advisors, Inc. (as the affiliated defendants are now known) $450,000 for limited-partner interests in two commercial real estate limited partnerships that CIGNA had created. Carr sued in 1993 under Rule 10b-5 of the Securities and Exchange Commission and the common law of Oregon, charging that the salesman with whom he had dealt had told him that the limited partnerships were safe, conservative investments, whereas the opposite was true — and indeed he lost every penny of his investment…
2Cases cited25 opinions
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- Onita Pacific Corp. v. Trustees of BronsonOregon Supreme Court · 1992
- Lloyd E. Williams, Jr. And Mildred A. Williams v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1993
- Patricia Burdett v. Robert S. MillerCourt of Appeals for the Seventh Circuit · 1992
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3Cited by62 opinions
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- Arnold R. Rissman v. Owen Randall Rissman and Robert Dunn GlickCourt of Appeals for the Seventh Circuit · 2000
- Dolores Frahm v. The Equitable Life Assurance Society of the United StatesCourt of Appeals for the Seventh Circuit · 1998
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