Legal Opinion
Randall v. Loftsgaarden
Supreme Court of the United States
Decided July 2, 1986No. 85-519PublishedCited by 308 opinions
1Opinion of the CourtJustice O’Connor
The question presented is whether the recovery available to a defrauded tax shelter investor, entitled under § 12(2) of the Securities Act of 1933 or § 10(b) of the Securities Exchange Act of 1934 to rescind the fraudulent transaction or obtain rescissory damages, must be reduced by any tax benefits the investor has received from the tax shelter investment.
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In 1973, petitioners purchased interests m Alotel Associates (Associates), a limited partnership organized by respondent B. J. Loftsgaarden to build and operate a motel in Rochester, Minnesota. Loftsgaarden was the president and sole…
2Cases cited32 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
- Affiliated Ute Citizens of Utah v. United StatesSupreme Court of the United States · 1972
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
27 more not listed; retrieve them via the Exa API.
3Cited by308 opinions
- Dura Pharmaceuticals, Inc. v. BroudoSupreme Court of the United States · 2005
- Pinter v. DahlSupreme Court of the United States · 1988
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- Hoxworth v. Blinder, Robinson & Co.Court of Appeals for the Third Circuit · 1990
- United States v. SmithSupreme Court of the United States · 1991
303 more not listed; retrieve them via the Exa API.