Richard Nicholas’s Empirical Analysis

Citation profile

1 federal appellate · 4 district · 1 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 17 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “A registered futures association that fails to enforce any bylaw or rule that is required under section 21 of this title or in enforcing any such bylaw or rule violates this chapter or any Commission rule, regulation, or order shall be liable for actual damages sustained by a person that engaged in any transaction specified in subsection (a) of this section to the extent of such person's actual losses that resulted from such transaction and were caused by such failure to enforce or enforcement of such bylaw or rule.”

   2 later decisions quote this exact passage · from the majority
   e.g. Troyer v. Nat'l Futures Ass'n · Klein Co Futures Inc v. Board of Trade of City of New York D 1-10

2. “[a]ny person (other than a registered entity or registered futures association) who violates this chapter or who willfully aids, abets, counsels, induces; or procures the commission of a violation of this chapter shall be liable for actual damages resulting from one or more of the transactions referred to in subpara-graphs (A) through (D) of this paragraph and caused by such violation to any other person— (A) who received trading advice from such person for a fee; (B) who made through such person any contract of sale of any commodity for future delivery (or option on such contract or any commodity) or any swap; or who deposited with or paid to such person money, securities, or property (or incurred debt .in lieu thereof) in connection with any order to make such contract or any swap; (G) who purchased from or sold to such person or placed through such person an order for the purchase or sale of— (i) an option subject to section 6c of this title (other than am option purchased or sold on a registered entity or other board of trade); (ii) a contract subject to section 23 of this title; or (iii) an interest or participation in a commodity pool; or (iv) a swap; or (D) who purchased or sold a contract referred to in subparagraph , (B) hereof or swap if the violation constitutes— ■ ■ (i) the use or employment of, or an .. attempt to use or employ, in connection with a swap, or a contract of sale of a commodity, in interstate commerce, or for 'future delivery' bn or subject to the r”

   1 later decision quote this exact passage · from the majority
   e.g. 149 F. Supp. 3d 874 - Braman v. CME Group, Inc.

3. “A person seeking to enforce liability under this section must establish that the...registered futures association...acted in bad faith in failing to take action or in taking such action as was taken, and that such failure or action caused the loss.”

   1 later decision quote this exact passage · from the majority
   e.g. Troyer v. Nat'l Futures Ass'n