Legal Opinion
Fed. Sec. L. Rep. P 97,815 Jeffrey E. Frederiksen and Emerald City Corporation, an Illinois Corporation v. Edward T. Poloway
Court of Appeals for the Seventh Circuit
Decided January 8, 1981No. 80-1292PublishedCited by 64 opinions
1Opinion of the Court
SPRECHER, Circuit Judge.
This case involves the scope of the federal securities laws. The question we confront is whether alleged fraud regarding the sale of assets and stock in a corporation falls within the scope of those laws. Not all sales transactions which involve “stock” are necessarily covered by the securities laws. Rather, the test for coverage, in general is whether the purchaser is placing money in the hands of another who will control the funds and the business decisions. If, however, the purchaser is assuming control of the critical decisions of the corporation, then the…
2Cases cited15 opinions
- Scherk v. Alberto-Culver Co.Supreme Court of the United States · 1974
- Church of the Holy Trinity v. United StatesSupreme Court of the United States · 1892
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- Tcherepnin v. KnightSupreme Court of the United States · 1967
- Fed. Sec. L. Rep. P 93,748 Securities and Exchange Commission v. Glenn W. Turner Enterprises, Inc.Court of Appeals for the Ninth Circuit · 1973
10 more not listed; retrieve them via the Exa API.
3Cited by64 opinions
- Haberman v. Washington Public Power Supply SystemWashington Supreme Court · 1988
- Chemical Bank v. Arthur Andersen & Co.Court of Appeals for the Second Circuit · 1984
- Fed. Sec. L. Rep. P 99,667 Reprosystem, B v. and N. Norman Muller, and Cross-Appellants v. Scm Corporation, and Cross-AppelleeCourt of Appeals for the Second Circuit · 1984
- McGrath v. Zenith Radio Corp.Court of Appeals for the Seventh Circuit · 1981
- Wisconics Engineering, Inc. v. FisherIndiana Court of Appeals · 1984
59 more not listed; retrieve them via the Exa API.