Fed. Sec. L. Rep. P 94,475 Mary F. El Khadem v. Equity Securities Corporation, a Corporation’s Empirical Analysis

Citation profile

30 federal appellate · 4 district · 7 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 60 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “It is true that unlike the situation in Howey, the financial gain for [the plaintiff] did not vary from year to year depending on the skill with which [the defendant] managed her collateral. Rather, only the risk of loss varied with [the defendant’s] management skills. But this distinction between [the defendant’s] plan and the Howey plan is without significance when determining whether the plan is a security. The distinction is precisely that between a common stock and a corporate bond, yet a corporate bond is not for that reason excluded from the definition of a security. Therefore, the fact that [the plaintiff’s] "profit” was constant while her risk of loss depended on [the defendant’s] management skills does not remove the plan from the definition of a security.”

   3 later decisions quote this exact passage · from the majority
   e.g. Payable Accounting Corp. v. McKinley · 91 Wash. 2d 698 - Sauve v. K.C., Inc.

2. “When used in this title, unless the context otherwise requires (10) The term 'security' 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 'security'; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited.”

   1 later decision quote this exact passage · from the majority
   e.g. Daniel v. International Brotherhood of Teamsters

3. “the case involved a security was itself a federal question,”

   1 later decision quote this exact passage · from the majority
   e.g. Securities and Exchange Commission v. J.T. Wallenbrock and Associates Larry Toshio Osaki Van Y. Ichscinotsubo Citadel Capital Management Group, Inc.