Monroe v. Hughes’s Empirical Analysis
31 F.3d 772 · 1994
Citation profile
6 federal appellate · 5 district · 1 state decisions
How this case has been cited
Cited by 38 later decisions — most recently March 2018 · most notably Miller v. Pezzani (1994), Provenz v. Miller (1996)
6 federal appellate · 5 district · 1 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. § 77K (§ 11 of the Securities Act of 1933) · 15 U.S.C. § 78J (§ 10 of the Securities Exchange Act of 1934)
Relies on Ernst & Ernst v. Hochfelder · Basic Inc. v. Levinson · Herman & MacLean v. Huddleston · Central Bank of Denver Na v. First Interstate Bank of Denver Na K · Kuntz v. City of Dayton
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 38 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“Appellants ... contend that the control deficiencies should have been noted on the audit report. Neither applicable professional standards, nor any legal authority of which we are aware, however, treat deficiencies in internal controls of a company as material to the audit report itself.... We see no basis for holding that they should be regarded as material for purposes of § 11, which concerns matters that would have significance to the purchaser of securities in understanding what is being purchased.”
2 later decisions quote this exact passage · from the majority“a reportable condition in which the design or operation of the specific internal control structure elements do not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.”
1 later decision quote this exact passage · from the majoritye.g. Monroe v. Hughes“[r]eportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the Company's ability to record, process, summarize, and report financial data consistent with the assertions of management in the consolidated financial statements.”
1 later decision quote this exact passage · from the majoritye.g. Young v. Lepone
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.