Errion v. Connell’s Empirical Analysis
236 F.2d 447 · 1956
Citation profile
76 federal appellate · 10 district · 9 state decisions
How this case has been cited
Cited by 136 later decisions — most recently September 2011 · most notably Perry O. Hooper, as Trustee in Bankruptcy of Consolidated American Industries, Inc. v. Mountain States Securities Corporation (1960), Chris-Craft Industries, Inc. v. Piper Aircraft Corp. (1973)
76 federal appellate · 10 district · 9 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Applies 15 U.S.C. § 78A (§ 1 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78J (§ 10 of the Securities Exchange Act of 1934)
Relies on Hurn v. Oursler · Fratt v. Robinson
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 136 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce or of the mails, * * * to use or employ * * * in connection with the purchase or sale, of any security * * *, 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““All the SEC acts give the United States District Courts jurisdiction over actions, civil and criminal, thereunder. This is ‘ irrespective of the amount in controversy or the citizenship of the parties.’ In addition, the state courts are given concurrent jurisdiction over private actions under all the statutes except the Exchange Act. “ Section 27 of the Exchange Act is unique in giving the District Courts ‘ exclusive jurisdiction of violations of this title or the rules and regulations thereunder, and of all suits in equity and actions at law brought to enforce any liability or duty created by this title or the rules and regulations thereunder.’ We have already noticed the absence of any explanation for this treatment in the legislative history. And we have also considered, in the context of the proxy rules, the extent to which the state courts may and should nevertheless entertain, as a matter of state tort law, actions which are based on violations of the Exchange Act, or consider such violations by way of defense or replication in actions based on state law. Everything there said with respect to the proxy rules is equally applicable in principle to actions based on Rule 10b-5 or any other provision or rule for whose violation the Exchange Act expressly provides no private remedy. At any rate, it is clear that no state court has jurisdiction over any of the actions expressly created by the Exchange Act. And, as we have earlier concluded, § 27 should likewise he considered ”
2 later decisions quote this exact passage · from the majority“[I]t was sufficient if it were shown that fraud was used or employed in connection with the use of instruments of interstate commerce or the mails. Therefore, all that is required is a showing that instruments of interstate commerce or the mails were used and in connection with that use a fraudulent act occurred * * *.”
2 later decisions 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.