Legal Opinion
William Beaumont Hospital System v. Morgan Stanley & Co., LLC
Court of Appeals for the Sixth Circuit
Decided January 26, 2017No. Case 16-1135UnpublishedCited by 13 opinions
1Opinion of the Court
OPINION
JULIA SMITH GIBBONS, Circuit Judge.
Plaintiff William Beaumont Hospital (“Beaumont”) and defendants Morgan Stanley and Goldman Sachs entered into a structured-debt-issuance agreement for auction-rate securities (“ARS”) in March 2006 to finance a hospital-renovation project.
Defendants, as underwriters for the debt, agreed to purchase and to make a public offering of the ARS. Pursuant to the agreement and related disclosures, defendants had a practice of submitting cover bids in the ARS market. In 2007, many ARS auctions failed as the economy slowly deteriorated leading up to the 2008…
2Cases cited8 opinions
- Paul Bender, George and Diane Decarlo v. Southland CorporationCourt of Appeals for the Sixth Circuit · 1984
- Hi-Way Motor Co. v. International Harvester Co.Michigan Supreme Court · 1976
- Republic Bank & Trust Company v. Bear Stearns & Company., Inc.Court of Appeals for the Sixth Circuit · 2012
- Frank v. Dana Corp.Court of Appeals for the Sixth Circuit · 2008
- Louisiana School Employees' Retirement System v. Ernst & Young, LLPCourt of Appeals for the Sixth Circuit · 2010
3 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
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- Catalus Capital USVI, LLC v. The ServiceMaster Company, LLCDistrict Court, Virgin Islands · 2019
- Grimm v. Country Roads Minerals, LLCDistrict Court, E.D. Kentucky · 2020
- Heath v. Highlift Equipment, Ltd.District Court, S.D. Ohio · 2020
8 more not listed; retrieve them via the Exa API.