Legal Opinion
Globus v. Law Research Service, Inc.
Court of Appeals for the Second Circuit
Decided September 8, 1969No. Nos. 583-85, Docket 32766-32768PublishedCited by 242 opinions
1Opinion of the Court
IRVING R. KAUFMAN, Circuit Judge:
This tortuous litigation raises at least two issues of great importance: are punitive damages available in private actions based on § 17(a) of the Securities Act of 1933, 15 U.S.C. § 77q (a); and, may an underwriter be indemnified by an issuer for liabilities arising out of misstatements in an offering circular of which the underwriter .had actual knowledge? We hold that punitive damages may not be recovered under § 17(a) and that an underwriter may not be indemnified in a case such as this.
The plaintiffs-appellees, purchasers of the stock of Law Research…
2Cases cited46 opinions
- Curtis Publishing Co. v. ButtsSupreme Court of the United States · 1967
- Dunn v. United StatesSupreme Court of the United States · 1932
- Silver v. New York Stock ExchangeSupreme Court of the United States · 1963
- Eisen v. Carlisle & JacquelinCourt of Appeals for the Second Circuit · 1968
- Walker v. SheldonNew York Court of Appeals · 1961
41 more not listed; retrieve them via the Exa API.
3Cited by242 opinions
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Cash v. County of ErieCourt of Appeals for the Second Circuit · 2011
- Securities and Exchange Commission v. Manor Nursing Centers, Inc.Court of Appeals for the Second Circuit · 1972
- Fed. Sec. L. Rep. P 94,803 Steven Flaks v. David I. Koegel and Flora Mir Candy CorporationCourt of Appeals for the Second Circuit · 1974
- Huddleston v. Herman & MacLeanCourt of Appeals for the Fifth Circuit · 1981
237 more not listed; retrieve them via the Exa API.