Ceci v. McAllister Bros.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding a creditor lacked standing because its interest, although financially substantial, was \clearly non- proprietary\
• convertible debentures are securities within the meaning of both the Securities Act and the Securities Exchange Act, 15 U.S.C. §§ 77b(1), 78c(a)(10)
• convertible debentures are securities within the meaning of both the Securities Act and the Securities Exchange Act, 15 U.S.C. §§ 77b(1), 78c(a)(10)
• a holder of a warrant and a convertible debenture “may recover in a direct action whether or not their interest in the corporation would support a derivative suit.”
• “The possibility that the value of common stock will increase to a point where it exceeds the value of the bond is the sales feature with which the issuer obtained a lower-than-market interest rate on the bond.”

Source: CourtListener parenthetical corpus (CC0).