Legal Opinion
Carroll v. Bear, Stearns & Co.
District Court, S.D. New York
Decided June 30, 1976No. 75 Civ. 6130PublishedCited by 19 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
WHITMAN KNAPP, District Judge.
Hard on the heels of the landmark decision in Ernst & Ernst v. Hochfelder (1976) 425 U.S. 185, 96 S.Ct. 1375, 47 L.Ed.2d 668, we are called upon to apply its reasoning to a garden-variety customer-broker suit. Because the complaint — although purporting to state claims of fraud under section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 (hereinafter “10b-5”), the NASD and NYSE Rules and the common law — does nothing more than allege mere negligence, it must be dismissed for failure to state a claim under the above provisions.…
2Cases cited13 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Fed. Sec. L. Rep. P 93,590 David Segal v. Lawrence Gordon, and Coburn Corporation of AmericaCourt of Appeals for the Second Circuit · 1972
- Colonial Realty Corporation v. Bache & Co.Court of Appeals for the Second Circuit · 1966
- Richard Shemtob v. Shearson, Hammill & Co., Inc.Court of Appeals for the Second Circuit · 1971
- Fed. Sec. L. Rep. P 94,437 Hetty Fey v. Walston & Co., Inc., and Robert A. SpiraCourt of Appeals for the Seventh Circuit · 1974
8 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Zerman v. JacobsDistrict Court, S.D. New York · 1981
- Moran v. Kidder Peabody & Co.District Court, S.D. New York · 1985
- State Teachers Retirement Board v. Fluor Corp.District Court, S.D. New York · 1980
- Berman v. Bache, Halsey, Stuart, Shields, Inc.District Court, S.D. Ohio · 1979
- Parsons v. Hornblower & Weeks-Hemphill, NoyesDistrict Court, M.D. North Carolina · 1977
14 more not listed; retrieve them via the Exa API.