Perry O. Hooper, as Trustee in Bankruptcy of Consolidated American Industries, Inc. v. Mountain States Securities Corporation
Court of Appeals for the Fifth Circuit
1Opinion of the Court
JOHN R. BROWN, Circuit Judge.
In this civil action seeking relief for violation of § 10(b) of the Securities Exchange Act, 15 U.S.C.A. §§ 78 et seq., 78j, and Rule X-10B-5 promulgated by the SEC, the principal question is whether a corporation misled by fraud in the issuance of its stock in return for spurious assets is a seller. Is the transaction a sale? The District Court on motion to dismiss the complaint thought not. With that conclusion, the efforts to secure extraterritorial service of process under § 27 of the Act for the trial in Alabama over defendants residing in other states…
Also in this document: Dissent.
2Cases cited47 opinions
- Conley v. GibsonSupreme Court of the United States · 1957
- Holmberg v. ArmbrechtSupreme Court of the United States · 1946
- Pereira v. United StatesSupreme Court of the United States · 1954
- Bailey v. GloverSupreme Court of the United States · 1875
- Birnbaum v. Newport Steel Corp.Court of Appeals for the Second Circuit · 1952
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3Cited by291 opinions
- Superintendent of Insurance of New York v. Bankers Life & Casualty Co.Supreme Court of the United States · 1971
- Robert S. Robertson v. Dean Witter Reynolds, Inc.Court of Appeals for the Ninth Circuit · 1984
- Commodity Futures Trading Commission v. Jack W. SavageCourt of Appeals for the Ninth Circuit · 1980
- Leo Vine v. Beneficial Finance Company, Inc., and Charles H. Dowd, Stuart A. Wixson, George J. Springer, C. H. Donohue and Crown Finance Company, Inc.Court of Appeals for the Second Circuit · 1967
- Fed. Sec. L. Rep. P 95,351 Billie Jean Woodward v. Metro Bank of DallasCourt of Appeals for the Fifth Circuit · 1975
286 more not listed; retrieve them via the Exa API.