Hayes v. Gross’s Empirical Analysis
982 F.2d 104 · 1992
Citation profile
34 federal appellate · 22 district · 3 state decisions
How this case has been cited
Cited by 92 later decisions — most recently September 2018 · most notably In re Burlington Coat Factory Securities Litigation (1997), Shaw v. Digital Equipment Corp. (1996)
34 federal appellate · 22 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
Relies on Basic Inc. v. Levinson · Affiliated Ute Citizens of Utah v. United States · Keene Corp. v. United States · Shapiro v. UJB Financial Corp. · Frank 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 92 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“[A]n allegation of mismanagement on the part of a defendant will not alone support a claim under Sec. 10(b) or Rule 10b-5; nor will an allegation that a defendant failed to disclose the existence of mismanagement.... [H]owever, ... a complaint does allege an actionable misrepresentation if it alleges that a defendant was aware that mismanagement had occurred and made a material public statement about the state of corporate affairs inconsistent with the existence of the mismanagement.”
3 later decisions quote this exact passage · from the majority“made affirmative representations inconsistent with the state of corporate affairs they knew to exist.”
3 later decisions quote this exact passage · from the majority“Allowing plaintiff to pursue this claim will neither prejudice the corporation and its other stockholders nor permit a double recovery for the same injury. If [the savings association] has claims against its officers and directors arising from their mismanagement, the RTC is free to pursue those claims for the ultimate benefit of the creditors and stockholders of [the savings association]. Assuming solvency on the part of the defendants, as we must on this record, we see no conflict between plaintiff’s interest and those of the creditors and other stockholders. Assuming insolvency on the part of the defendants, a conflict between plaintiff and [the savings association], as creditors of the defendants, may arise, but the RTC has advanced no persuasive reason why, in such circumstances, plaintiff and [the savings association] should not be treated as any other creditors competing for a limited pool of resources. As far as the potential for double recovery is concerned, plaintiff has alleged that the market price of [the savings association’s] stock when he purchased it was far in excess of what it would have been had the market been evaluating the failing institution that defendants knew [it] to be. Plaintiff will have to prove this allegation. When he attempts to do so, it may be that he will attempt to recover compensation to which the corporation is justly entitled. If so, the district court will be required to evaluate the prospect of double recovery in the specific fact co”
1 later decision quote this exact passage · from the majoritye.g. Riley v. Simmons
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.