SEC v. Phan’s Empirical Analysis
2007
Citation profile
19 federal appellate · 8 district · 1 state decisions
How this case has been cited
Cited by 70 later decisions — most recently December 2024 · most notably Van Asdale v. International Game Technology (2009), Securities & Exchange Commission v. Platforms Wireless International Corp. (2010)
19 federal appellate · 8 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. § 77D (§ 4 of the Securities Act of 1933) · 15 U.S.C. § 77E (§ 5 of the Securities Act of 1933) · 15 U.S.C. § 77F (§ 6 of the Securities Act of 1933) · 15 U.S.C. § 77L (§ 12 of the Securities Act of 1933) · 15 U.S.C. § 77Q (§ 17 of the Securities Act of 1933) · 15 U.S.C. § 77S (§ 19 of the Securities Act of 1933) · 15 U.S.C. § 77T (§ 20 of the Securities Act of 1933) · 15 U.S.C. § 78J (§ 10 of the Securities Exchange Act of 1934)
Relies on Basic Inc. v. Levinson · TSC Industries, Inc. v. Northway, Inc. · Auer v. Robbins · United States v. Gaudin · Pinter v. Dahl
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 70 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“(a) [t]o employ any device, scheme, or artifice to defraud, (b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or (c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person, in connection with the purchase or sale of any security.”
2 later decisions quote this exact passage · from the majority“(1) to employ any device, scheme, or artifice to defraud, or (2) to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or (3) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.”
2 later decisions quote this exact passage · from the majority“'Only in certain instances — such as when a declaration states only conclusions and not such facts as would be admissible in evidence — can a court disregard a self serving declaration for purposes of summary judgment.’ This is not the case [where a plaintiff’s] declaration sets forth specific facts based upon his personal knowledge. Such information is properly before the Court on a motion for summary judgment.”
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.