United States v. Libera’s Empirical Analysis
989 F.2d 596 · 1993
Citation profile
33 federal appellate · 1 state decisions
How this case has been cited
Cited by 61 later decisions (1 by the Supreme Court) — most recently December 2014 · most notably United States v. D'Amato (1994), United States v. Martinez (1995)
33 federal appellate · 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
Relies on Yagow v. United States · Carpenter v. United States · Dirks v. Securities & Exchange Commission · California v. Texas · Quilici v. Village of Morton Grove
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 61 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“the misappropriation theory requires the establishment of two elements: (i) a breach by the tipper of a duty owed to the owner of nonpublic information; and (ii) the tippee's knowledge that the tipper had breached the duty. We believe these two elements, without more, are sufficient for tippee liability.”
3 later decisions quote this exact passage · from the concurrence“has caused the information to be fully impounded into the price of the particular stock,”
3 later decisions quote this exact passage · from the concurrence“The tipper’s knowledge that he or she was breaching a duty to the owner of confidential information suffices to establish the tipper’s expectation that the breach will lead to some kind of a misuse of the information. This is so because it may be presumed that the tippee’s interest in the [material, nonpublic] information is, in contemporary jargon, not for nothing. To allow a tippee to escape liability solely because the government cannot prove to a jury’s satisfaction that the tipper knew exactly what misuse would result from the tipper’s wrongdoing would ... serve no purpose other than to create a loophole for such misuse.”
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.