Legal Opinion
Fed. Sec. L. Rep. P 96,609 National Bank of Commerce of Dallas v. All American Assurance Company
Court of Appeals for the Fifth Circuit
Decided November 14, 1978No. 76-3331PublishedCited by 58 opinions
1Opinion of the Court
RONEY, Circuit Judge:
In this case, plaintiff bank sought to recover from defendant-borrowers $1.45 million in damages resulting from alleged fraud in the pledge of worthless stock, asserting a violation of the antifraud provisions of the federal securities acts. 15 U.S. C.A. § 78j(b); 15 U.S.C.A. § 77q(a). Holding that a commercial loan on a promissory note with securities pledged as collateral is not a protected security transaction under the federal antifraud statute, we affirm the district court’s dismissal for lack of federal jurisdiction.
Background
The transactions which lead to this…
2Cases cited21 opinions
- Church of the Holy Trinity v. United StatesSupreme Court of the United States · 1892
- United Housing Foundation, Inc. v. FormanSupreme Court of the United States · 1975
- Tcherepnin v. KnightSupreme Court of the United States · 1967
- Bankers Trust Co. v. MallisSupreme Court of the United States · 1978
- Fed. Sec. L. Rep. P 95,614 the Exchange National Bank of Chicago v. Touche Ross & Co.Court of Appeals for the Second Circuit · 1976
16 more not listed; retrieve them via the Exa API.
3Cited by58 opinions
- John D. Williamson, Plaintiffs-Appellants-Cross v. Gordon G. Tucker, Defendants-Appellees-CrossCourt of Appeals for the Fifth Circuit · 1981
- Fed. Sec. L. Rep. P 96,861 Gerald Mansbach v. Prescott, Ball & TurbenCourt of Appeals for the Sixth Circuit · 1979
- Chemical Bank v. Arthur Andersen & Co.Court of Appeals for the Second Circuit · 1984
- Fed. Sec. L. Rep. P 97,567 Edmond G. Pharo v. W. L. SmithCourt of Appeals for the Fifth Circuit · 1980
- Fed. Sec. L. Rep. P 97,346 Robert L. Alley, Cross-Appellee v. Louis Miramon, Jr., Cross-AppellantsCourt of Appeals for the Fifth Circuit · 1980
53 more not listed; retrieve them via the Exa API.