Legal Opinion
Ross v. Bolton
Court of Appeals for the Second Circuit
Decided May 30, 1990No. 398, Docket 89-7662PublishedCited by 108 opinions
1Opinion of the Court
CARDAMONE, Circuit Judge:
The principal question on this securities litigation appeal is whether a clearing firm may use the in pari delicto defense to bar an investor’s suit to recover losses in connection with stock he purchased from an introducing firm. Because in this case no blame may be laid at the clearing firm’s doorstep for the wrongs committed by the introducing firm, we think the defense should be available.
BACKGROUND
R.E. Bolton & Company, Inc. (Bolton), a New York brokerage firm, was the principal market-maker in the securities of a company called Resort and Urban Timeshares, Inc.…
2Cases cited15 opinions
- Conley v. GibsonSupreme Court of the United States · 1957
- Scheuer v. RhodesSupreme Court of the United States · 1974
- Copperweld Corp. v. Independence Tube Corp.Supreme Court of the United States · 1984
- Pinter v. DahlSupreme Court of the United States · 1988
- Perma Life Mufflers, Inc. v. International Parts Corp.Supreme Court of the United States · 1968
10 more not listed; retrieve them via the Exa API.
3Cited by108 opinions
- Sarah B. Shields, Individually and as Representative of All Others Similarly Situated v. Citytrust Bancorp, Inc., George F. Taylor and Irwin EngelmanCourt of Appeals for the Second Circuit · 1994
- Vess v. Ciba-Geigy Corp. USACourt of Appeals for the Ninth Circuit · 2003
- Novak v. KasaksCourt of Appeals for the Second Circuit · 2000
- IUE AFL-CIO Pension Fund v. HerrmannCourt of Appeals for the Second Circuit · 1993
- Official Committee Of The Unsecured Creditors Of Color Tile, Inc. v. Coopers & Lybrand, LlpCourt of Appeals for the Second Circuit · 2003
103 more not listed; retrieve them via the Exa API.