Siebel v. Scott’s Empirical Analysis
725 F.2d 995 · 1984
Citation profile
24 federal appellate · 4 district · 5 state decisions
How this case has been cited
Cited by 41 later decisions — most recently June 2019 · most notably Fishman v. Estate of Wirtz (1986), Youmans v. Simon (1986)
24 federal appellate · 4 district · 5 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. § 78J (§ 10 of the Securities Exchange Act of 1934)
Relies on Affiliated Ute Citizens of Utah v. United States · Securities & Exchange Commission v. W. J. Howey Co. · Herman & MacLean v. Huddleston · United Housing Foundation, Inc. v. Forman · Desist v. United States
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 41 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“[I]f the property is not bought from, but sold to the fraudulent party, future accretions not foreseeable at the time of the transfer even on the true facts, and hence speculative, are subject to another factor, viz., that they accrued to the fraudulent party. It may, as in the ease at bar, be entirely speculative whether, had plaintiffs not sold, the series of fortunate occurrences would have happened in the same way, and to their same profit. However, there can be no speculation but that the defendant actually made the profit and, once it is found that he acquired the property by fraud, that the profit was the proximate consequence of the fraud, whether foreseeable or not. It is more appropriate to give the defrauded party the benefit even of windfalls than to let the fraudulent party keep them.”
1 later decision quote this exact passage · from the majority“Howey teaches that [a transaction] is a security only if the holder is relyinjg on the managerial skills of others- to generate his profit. By implication, if the holder is relying on his own entrepreneurial talents to generate his profit, his interest is not treated as a security because he does not fall within the class of persons Congress meant to protect when it included non-traditional securities'in'the coverage of the securities 'laws.”
1 later decision quote this exact passage · from the majority“deliberately misrepresented the options available to the limited partners, misrepresented his planned use of the cable television assets should the partnership terminate, and falsely represented to several limited partners that each was the last one deciding to sell out to JSA.”
1 later decision 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.