Goldstein v. Galvin
Court of Appeals for the First Circuit
1Opinion of the Court
SELYA, Circuit Judge.
A hoary proverb teaches that' large oaks from little acorns grow. That is a natural progression. This case, however, features a less natural progression: an obscure violation of a state securities regulation, not especially egregious in itself, has led to a litigation extravaganza — an extravaganza that pits a prominent hedge fund operator against a state official with broad regulatory authority over the securities industry. This appeal is the latest (but, we fear, not necessarily the last) chapter in the tale.
The matter before us turns on allegations in the plaintiffs…
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