Nelson v. Stahl’s Empirical Analysis

Citation profile

4 federal appellate · 2 district ·

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 14 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “[t]o use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, or any securities-based swap agreement (as defined in section 206B of the Gramm-Leach-Bliley Act [15 U.S.C.S. § 78c note]), any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.”

   3 later decisions quote this exact passage · from the majority
   e.g. Ledford v. Peeples · Ledford v. Peeples

2. “It shall be unlawful for any person ... (a) To employ any device, scheme, or artifice to defraud, (b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, or (c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person, in connection with the purchase or sale of any security.”

   1 later decision quote this exact passage · from the majority
   e.g. 270 F. Supp. 2d 444 - SST GLOBAL TECHNOLOGY, LLC v. Chapman

3. “[S]tock, whether in a publicly held company or [ ] in a closely held corporation, constitutes a security governed by the federal securities laws.”

   1 later decision quote this exact passage · from the majority
   e.g. Zohar CDO 2003-1, Ltd. v. Patriarch Partners, LLC