Lane v. Page’s Empirical Analysis
2008
Citation profile
9 district ·
Relationships
Applies 15 U.S.C. § 78N (§ 14 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78T (§ 20 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78U (§ 21 of the Securities Exchange Act of 1934) · 15 U.S.C. § 78U (§ 21d of the Securities Exchange Act of 1934)
Relies on Bell Atlantic Corp. v. Twombly · TSC Industries, Inc. v. Northway, Inc. · Mills v. Electric Auto-Lite Co. · Central Bank of Denver Na v. First Interstate Bank of Denver Na K · Santa Fe Industries, Inc. v. Green
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 10 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“(i) that Westland’s board of directors had been informed that between 100 and 500 million barrels of oil could be located on Westland property; (ii) that Defendant Sanchez had expressed his concern at an August 29, 2005, board meeting about losing valuable water and mineral rights; (iii) that Westland had received an offer from Savant Resources to lease all of Westland’s property for oil and gas exploration; and (iv) that Tecton Energy LLC had offered to expand its existing oil and gas exploration lease from 7,000 to 30,000 acres.”
1 later decision quote this exact passage · from the majoritye.g. Lane v. Page“A shareholder could certainly find the process to have been deficient, but he or she could have come to that conclusion, or at least been suspicious, on the basis of the information divulged in the Proxy. And that is § 14(a)’s purpose: to give shareholders the information needed to assess corporate action. Section 14(a) is not a tool for directly attacking the sufficiency of corporate actions; it operates more indirectly, on the idea that information is power. And sufficient information was disclosed here.”
1 later decision quote this exact passage · from the majoritye.g. Lane v. Page“If Westland’s president and CEO managed to manipulate the 2001 valuation, that would be information a reasonable shareholder would think was important. Susceptibility to pressure by Westland would call into question the independence of the firm and the integrity and reliability of the valuation, and thus the information would be material.”
1 later decision quote this exact passage · from the majoritye.g. Lane v. Page
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.