Tcherepnin v. Knight’s Empirical Analysis
1967
Citation profile
765 federal appellate · 202 district · 188 state decisions
How this case has been cited
Cited by 2,141 later decisions (44 by the Supreme Court) — most recently January 2025 · most notably Ernst & Ernst v. Hochfelder (1976), Blue Chip Stamps v. Manor Drug Stores (1975)
765 federal appellate · 202 district · 188 state decisions — followed in 27 states
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.
Appellate journey
reviewedTcherepnin v. Knight (from Seventh Circuit Court of Appeals)
Relationships
Applies 15 U.S.C. § 77C (§ 3 of the Securities Act of 1933) · 15 U.S.C. § 78A (§ 1 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78C (§ 3 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78J (§ 10 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78L (§ 12 of the Securities Exchange Act of 1934) · 28 U.S.C. § 1292
Relies on Securities & Exchange Commission v. W. J. Howey Co. · Securities & Exchange Commission v. C. M. Joiner Leasing Corp. · Securities & Exchange Commission v. Variable Annuity Life Insurance · Securities and Exchange Commission v. United Benefit Life Insurance Company
Cited together with Securities & Exchange Commission v. W. J. Howey Co. · United Housing Foundation, Inc. v. Forman · Securities & Exchange Commission v. C. M. Joiner Leasing Corp. · Marine Bank v. Weaver · United Mine Workers of America v. Gibbs
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 2,141 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“form should be disregarded for substance and the emphasis should be on economic reality.”
66 later decisions quote this exact passage · from the majority“means any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit, for a security, or in general, any instrument commonly known as a”
54 later decisions quote this exact passage · from the majority“embodies a flexible rather than a static principle, one that is capable of adaptation to meet the countless and variable schemes devised by those who seek the use of the money of others on the promise of profits.”
34 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.