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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. The Court noted that under the Securities Exchange Act of 1934, derivative investors are considered buyers or sellers of securities for application of SEC Rule 10b-5.[1]
See also
Further reading
- Hawkins, C. (1975). "Standing to Sue for Violations of the Federal Securities Laws—the Birnbaum Doctrine". Arkansas Law Review. 29: 538. ISSN 0004-1831.
- Mullaney, Thomas J. (1977). "Theories of Measuring Damages in Security Cases and the Effects of Damages on Liability". Fordham Law Review. 46: 277. ISSN 0015-704X.
References
- ^ Webber, David H. (2012). "The Plight of the Individual Investor". Northwestern University Law Review. 106: 183–84. Retrieved November 21, 2019.
External links
- Text of Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (1975) is available from: Google Scholar Justia Library of Congress Oyez (oral argument audio)
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