(DOWNLOAD) "Collins v. Signetics Corporation and Corning Glass Works John R. Cillag" by Third Circuit United States Court Of Appeals ~ Book PDF Kindle ePub Free

eBook details

Title: Collins v. Signetics Corporation and Corning Glass Works John R. Cillag
Author : Third Circuit United States Court Of Appeals
Release Date : January 31, 1979
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 79 KB

Description

The major question for decision is whether absence of buyer-seller privity is fatal to a claim based on ? 12(2) of the Securities Act of 1933. The district courts in this circuit that have addressed the question, including Judge McGlynn, the trial judge here, have ruled that unless some special relationship exists between the issuer and the actual seller of the securities, such as control of the seller by the issuer, a purchaser not in privity with the issuer has no claim under ? 12(2) against the issuer. We agree with this interpretation and, persuaded that the trial court committed no error in dismissing appellants ? 12(2) claim or in ruling on appellants other contentions, we affirm.