150 F. Supp. 2d 830 - Schweizer v. Keating’s Empirical Analysis
2001
Citation profile
4 district · 1 state decisions
Relationships
Applies 15 U.S.C. § 77A (§ 1 of the Securities Act of 1933)
Relies on Anderson v. Liberty Lobby, Inc. · Celotex Corporation v. Catrett H · Matsushita Electric Industrial Co., Ltd. v. Zenith Radio Corporation · Rowley v. Mayor of Baltimore · Brady v. Ralph Parsons Co.
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 5 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“In the ... sale of securities by private offering, the contractual provisions at issue are insufficient to establish ... the right to control Delta and its representatives. Securities sold by private offering are subject to numerous “prophylactic” regulations designed to ensure that they are sold to informed, sophisticated investors. See generally Securities Act of 1933, as amended by Securities Exchange Act of 1934, 15 U.S.C. § 77a et seq.; 17 C.F.R. § 230.501 et seq. Most of the “control” provisions identified by Plaintiff are identical to those imposed under the applicable securities laws, and enable the offering to retain exemption from registration. Plaintiff has not presented any evidence suggesting that the restrictions placed upon Delta and its employees were atypical of those imposed upon independent broker/dealers selling privately offered securities. Indeed, responsible issuers would be expected to include such contractual provisions in selling agreements and related documents in order to ensure compliance with the law. Delta and its representatives retained a significant degree of discretion in selecting potential investors to whom trust shares would be offered and the manner in which the investment would be presented to the prospective buyer; hence, there is no basis for a determination that they were deprived of their discretion. Plaintiffs assertion that the ... Defendants controlled Delta and its representatives in a manner that is indicative of [an agency] re”
1 later decision quote this exact passage · from the majority
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.