Baird v. Frankline’s Empirical Analysis

Citation profile

65 federal appellate · 4 district · 2 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 121 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “(a) Any exchange may be registered with the Commission as a national securities exchange under the terms and conditions hereinafter provided in this section, by filing a registration statement in such form as the Commission may prescribe, containing the agreements, setting forth the information, and accompanied by the documents, below specified: (1) An agreement (which shall not be construed as a waiver of any constitutional right or any right to contest the validity of any rule or regulation) to comply, and to enforce so far as is within its powers compliance by its members, with the provisions of this chapter, and any amendment thereto and any rule or regulation made or to be made thereunder; ****** (b) No registration shall be granted or remain in force unless the rules of the exchange include provision for the expulsion, suspension, or disciplining of a member for conduct or proceeding inconsistent with just and equitable principles of trade, and declare that the willful violation of any provisions of this chapter or any rule or regulation thereunder shall be considered conduct or proceeding inconsistent with just and equitable principles of trade. * * * * * * (d) If it appears to the Commission that the exchange applying for registration is so organized as to be able to comply with the provisions of this chapter and the rules and regulations thereunder and that the rules of the exchange are just and adequate to insure fair dealing and to protect investors, the Commission”

   6 later decisions quote this exact passage · from the majority
   e.g. Lank v. New York Stock Exchange · Weinberger v. New York Stock Exchange

2. “It is well established that members of a class for whose protection a statutory duty is created may sue for injuries resulting from its breach * * *.”

   5 later decisions quote this exact passage · from the majority
   e.g. Lank v. New York Stock Exchange · Geyer v. Paine, Webber, Jackson & Curtis, Inc.

3. ““The Stock Exchange, therefore, was under a duty on November 24, 1937, to take disciplinary action against Richard Whitney for the various violations of the Securities Exchange Act and the Rules of the Exchange which it either knew of or at least had reasonable cause to suspect. Its complete inaction for some two months was a dereliction of that duty and a violation of § 6(b) of the Act.” Id. at 244 (emphasis added).”

   4 later decisions quote this exact passage · from the majority
   e.g. Silver v. New York Stock Exchange · Hughes v. Dempsey-Tegeler & Co.