Blue Chip Stamps v. Manor Drug Stores

Blue Chip Stamps v. Manor Drug Stores

Argued March 24, 1975
Decided June 9, 1975
Full case name Blue Chip Stamps v. Manor Drug Stores
Citations

421 U.S. 723 (more)

44 L.Ed.2d 539; 95 S.Ct. 1917
Prior history Certiorari to the United States Court of Appeals for the Ninth Circuit
Holding
A private damages action under Rule 10b-5 is confined to actual purchasers or sellers of securities and the Birnbaum rule bars respondent from maintaining this suit.
Court membership
Chief Justice
Warren E. Burger
Case opinions
Majority Rehnquist, joined by Burger, Stewart, White, Marshall, Powell
Dissent Blackmun, joined by Douglas, Brennan
Laws applied
Securities Act of 1933, 48 Stat. 74, as amended, 15 U.S.C. 77a et seq.

Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (1975), was a decision by the United States Supreme Court, which ruled that only those suffering direct loss from the purchase or sale of stock had standing to sue under federal securities law.

See also

Further reading


This article is issued from Wikipedia - version of the Friday, January 30, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.