[DOWNLOAD] "Herpich v. Wallace" by United States Court of Appeals for the Fifth Circuit # eBook PDF Kindle ePub Free

📘 Read Now     📥 Download

eBook details

• Title: Herpich v. Wallace
• Author : United States Court of Appeals for the Fifth Circuit
• Release Date : January 14, 1970
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 79 KB

Description

In this case we must determine whether minority shareholders of a Louisiana corporation have stated a claim for relief under various sections of the federal securities laws which entitles them to challenge in federal court, absent diversity, the way in which control of their corporation was sold to an Arizona-based complex of insurance companies. The District Court dismissed their complaint on the pleadings, thus relegating them to the state courts. This appeal requires us to consider basic aspects of the implied right of action for violation of section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. ? 78j(b), and, more particularly, SEC Rule 10b-5, 17 C.F.R. ? 240.10b-5, promulgated thereunder, which right was recognized by this Court in Reed v. Riddle Airlines, 5 Cir., 1959, 266 F.2d 314. The principal issues with which we deal are (1) the standing of plaintiffs to bring this suit under Rule 10b-5 and (2) the extent to which the conduct about which plaintiffs complain is actionable under the rule. In addition, we are asked to recognize various implied rights of action under the Investment Company Act of 1940, 15 U.S.C. ? 80a-1 et seq.

Books Free Download "Herpich v. Wallace" PDF ePub Kindle