Baker v. Wheat First Securities’s Empirical Analysis
1986
Citation profile
8 federal appellate · 2 district · 1 state decisions
How this case has been cited
Cited by 22 later decisions — most recently July 2011
8 federal appellate · 2 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. § 77O (§ 15 of the Securities Act of 1933) · 15 U.S.C. § 78A (§ 1 of the Securities Exchange Act of 1934)
Relies on Ernst & Ernst v. Hochfelder · Blue Chip Stamps v. Manor Drug Stores · Town of Mashpee v. Mashpee Tribe · St. Martin Evangelical Lutheran Church v. South Dakota · Gateway Coal Co. v. United Mine Workers
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 22 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“The Court does not believe that the discretionary—nondiscretionary dichotomy is the shibboleth which [defendant] attempts to make it out to be. While a few courts have based their holdings on the distinction, the Court does not find that the question will necessarily always be so neatly suitable for resolution ... [For instance, the Ninth Circuit] imposes fiduciary obligations where the agent for all practical purposes controls the account. The Ninth Circuit also noted ... in the context of churning, that the requisite degree of control is met when the client routinely follows the recommendations of the broker such that a pattern of de facto control by the broker develops.”
1 later decision quote this exact passage
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.