blue chip stamps v. manor
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U.S. Supreme Court BLUE CHIP STAMPS v. MANOR DRUG STORES, 421 U.S. 723 (1975) 421 U.S. 723
BLUE CHIP STAMPS ET AL. v. MANOR DRUG STORES. CERTIORA...
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WASHINGTON (HedgeWorld.com) - The United States Supreme Court heard arguments Wednesday [Jan. 18] in a case it might use to deprive states of the authority to create a class-action cause of action for persons induced to retain (i.e. to refrain from the sale of) certain securities on the basis of allegedly fraudulent statements.
The issue is of great importance because, 31 years ago, in Blue Chip Stamps v. Manor Drug Stores, the Supreme Court held that only actual securities transactions could create an implied right to a private cause of action in federal court. Someone who is induced by a misstatement to refrain from selling a stock has not committed an actual transaction, and therefore does not acquire a right to bring a federal lawsuit.
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...Supreme Court in Blue Chip Stamps v. Manor Drug Stores, (12) the rule ho...
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...S. 677, 702-703 (1979); Blue Chip Stamps . v. Manor Drug Stores, 421 U. S. ...
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... a purchase or sale of securities under Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (19...
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...When, in Blue Chip Stamps v. Manor Drug Stores, 421 U. S. 723...
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... in conjunction with applicable state "blue sky laws," (8) which regulate the offering and sal...O'Hagan, 521 U.S. at 664 (citing Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723, 737 (19...
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... that none involved litigants like those in Blue Chip Stamps v. Manor Drug Stores, 421 U. S. 723 ,...
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..., at 347 (quoting Blue Chip Stamps v. Manor Drug Stores , 421 U. S. 723...
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...This Court held in Blue Chip Stamps v. Manor Drug Stores, 421 U. S. 723, t...