Nucorp Energy Securities Litigation Phelps 3/4%-10% v. Continental Illinois National Bank and Trust Company of Chicago’s Empirical Analysis
772 F.2d 1486 · 1985
Citation profile
24 federal appellate · 8 district · 3 state decisions
How this case has been cited
Cited by 79 later decisions — most recently August 2019 · most notably In re Korean Air Lines Disaster of September 1, 1983 (1987), Thompson v. Paul (2008)
24 federal appellate · 8 district · 3 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. § 77A (§ 1 of the Securities Act of 1933) · 15 U.S.C. § 77W (§ 23 of the Securities Act of 1933)
Relies on United Mine Workers of America v. Gibbs · Klaxon Co. v. Stentor Electric Manufacturing Co. · Ernst & Ernst v. Hochfelder · Van Dusen v. Barrack · Hagans v. Lavine
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 79 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“Pendant jurisdiction exists where there is a sufficiently substantial federal claim to confer federal jurisdiction in the first place, and a ‘common nucleus of operative fact’ between the state and federal claims. United Mine Workers v. Gibbs, 383 U.S. 715, 725 [ 86 S.Ct. 1130, 1138 , 16 L.Ed.2d 218 ] (1966).”
2 later decisions quote this exact passage · from the dissent“(2) When the plaintiffs action in reliance took place in whole or in part in a state other than that where the false representations were made, the forum will consider such of the following contacts, among others, as may be present in the particular case in determining the state which, with respect to the particular issue, has the most significant relationship to the occurrence and the parties: (a) the place, or places, where the plaintiff acted in reliance upon the defendant’s representations, (b) the place where the plaintiff received the representations, (c) the place where the defendant made the representations, (d) the domicil, residence, nationality, place of incorporation and place of business of the parties, (e) the place where a tangible thing which is the subject of the transaction between the parties was situated at the time, and (f) the place where the plaintiff is to render performance under a contract which he has been induced to enter by the false representations of the defendant.”
1 later decision quote this exact passage · from the dissent“A cause of action arising from reliance on misrepresentation is personal to those persons who relied; it does not follow the security to remote purchasers who had no basis for reliance. Thus, the Phelps Committee purchasers, who acquired their securities after Nucorp’s public disclosure, were not automatically assigned the class members’ federal causes of action when they made their purchases. If we held otherwise, we would remove the remedy from those to whom the statute provides it, i.e., those who were defrauded, by gratuitously giving it to those who were not defrauded and have suffered no injury under the securities law.”
1 later decision quote this exact passage · from the concurrence
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.