Legal Opinion
Steginsky v. Xcelera Inc.
Court of Appeals for the Second Circuit
Decided January 27, 2014No. 13-1327-cv, 13-1892-cvPublishedCited by 137 opinions
1Opinion of the Court
JOHN M. WALKER, JR., Circuit Judge:
Plaintiff Gloria Steginsky, a former minority shareholder of Xcelera Inc., appeals the dismissal of her securities fraud claims by the United States District Court for the District of Connecticut (Stefan R. Under-hill, District Judge). Her complaint alleged that Xcelera insiders purchased Xcelera stock by making a tender offer through a shell corporation without disclosing any information about Xcelera’s financial state. We hold that the duty of corporate insiders to either disclose material nonpublic information or abstain from trading is defined by federal…
2Cases cited18 opinions
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- ATSI Communications, Inc. v. Shaar Fund, Ltd.Court of Appeals for the Second Circuit · 2007
- Chiarella v. United StatesSupreme Court of the United States · 1980
- Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc.Supreme Court of the United States · 2008
- Securities and Exchange Commission v. First Jersey Securities, Inc. And Robert E. BrennanCourt of Appeals for the First Circuit · 1996
13 more not listed; retrieve them via the Exa API.
3Cited by137 opinions
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- Carpenters Pension Trust Fund of St. Louis v. PLCCourt of Appeals for the Second Circuit · 2014
- Brown Media Corporation v. K&L Gates, LLPCourt of Appeals for the Second Circuit · 2017
- AG Funds, L.P. v. SanofiDistrict Court, S.D. New York · 2015
- Gomez v. New York City Police DepartmentDistrict Court, S.D. New York · 2016
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