Source: https://stus.com/Securities-and-Exchange-Commission-v-Wallenbrock-cartoon-cec0002
Timestamp: 2019-04-20 00:16:30+00:00

Document:
Federal securities laws; investment scheme; fixed rate of return investment contract.
Proxy omission not material substantial likelihood reasonable shareholder.
Directors and officers inside information own benefit derivative action insider trading.
Investment contract. definition of securities.
Underwriters performing a due-diligence investigation of two bond offerings by WorldCom, had a limited number of conversations with the stock issuer and its auditor, made only cursory inquiries, failed to look behind formulaic answers to questions.
Asher v. Baxter International, Inc.
Safe-harbor provision of 27A of the Securities and Exchange Act; fraud on the market theory; forward-looking statements must be accompanied by meaningful cautionary statements that adequately identify important risk factors.
Nursing Home Pension Fund, Local 144 v. Oracle Corp.
Private Securities Litigation Reform Act; Connect the inferences fraud Rule 10b-5. Allegations in the complaint, taken together, must give rise to an inference that the defendant acted with the requisite scienter of false statements, knowing.
United States v. Leonard; determining relationship includes reasonable expectation of significant investor control, and not investment contract, courts look beyond formal terms of documents circumstances surrounding relationship.; passive.
Pacific Investment Management Co. LLC v. Mayer Brown LLP; Attribution of false statements to a secondary actor is required in order to hold that actor liable for securities fraud under Rule 10b-5.
Business Roundtable v. SEC; The Securities and Exchange Commission must consider efficiency, competition, and capital formation, and failure makes promulgation of the proposed rule arbitrary and capricious. Rule 14a-11.
Huppe v. WPCS Int'l Inc;A beneficial owner's acquisition of securities directly from an issuer, at the issuer's request and with the board's approval, is a "purchase" of those securities under Section 16(b).

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