Legal Opinion
Demoe v. Dean Witter & Co.
District Court, D. Alaska
Decided September 10, 1979No. Civ. A 76-246PublishedCited by 3 opinions
1Opinion of the Court
MEMORANDUM OF OPINION
FITZGERALD, District Judge.
Dean Witter & Company, a brokerage firm licensed to do business in Alaska, and the personal defendants have moved to dismiss the first claim stated in the complaint the grounds that no private cause of action exists under Section 17(a) of the Securities Act of 1933. 1 Since Section 17(a) provides no express civil remedy, the question now to be resolved is whether a private right of action under Section 17(a) is properly implied. 2
Earl and Fukimo Demoe, residents of Japan, opened an investment account with Dean Witter & Company in March 1977. The…
2Cases cited26 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Cort v. AshSupreme Court of the United States · 1975
- Cannon v. University of ChicagoSupreme Court of the United States · 1979
- Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
- Touche Ross & Co. v. RedingtonSupreme Court of the United States · 1979
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3Cited by3 opinions
- Savino v. EF Hutton & Co., Inc.District Court, S.D. New York · 1981
- Woods v. Homes & Structures of Pittsburg, Kansas, Inc.District Court, D. Kansas · 1980
- Rispo v. Spring Lake Mews, Inc.District Court, E.D. Pennsylvania · 1980