Legal Opinion
R. Richard Bastian, III v. Petren Resources Corporation
Court of Appeals for the Seventh Circuit
Decided January 9, 1990No. 88-3299PublishedCited by 217 opinions
1Opinion of the Court
POSNER, Circuit Judge.
In 1981 the plaintiffs invested $600,000 in oil and gas limited partnerships promoted by the defendants. The plaintiffs allege that, had it not been for the offering memo-randa’s misrepresentations and misleading omissions concerning the defendants’ competence and integrity, the plaintiffs would not have invested in these partnerships, which by 1984 were worthless. The original complaint charged violations of Rule 10b-5 of the Securities and Exchange Commission, and the RICO statute (18 U.S.C. §§ 1961 et seq.), and sought damages equal to the investment. The district…
2Cases cited32 opinions
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- Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Superintendent of Insurance of New York v. Bankers Life & Casualty Co.Supreme Court of the United States · 1971
- Securities & Exchange Commission v. Capital Gains Research Bureau, Inc.Supreme Court of the United States · 1963
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3Cited by217 opinions
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- ANCHORBANK, FSB v. HoferCourt of Appeals for the Seventh Circuit · 2011
- FindWhat Investor Group v. FindWhat. ComCourt of Appeals for the Eleventh Circuit · 2011
- Schaaf v. Residential Funding Corp.Court of Appeals for the Eighth Circuit · 2008
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