City of Ashland v. Cummings

How courts have described this case

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

• finding that Section 5 liability covers the reselling of unregistered securities following an initial offering
• disgorging broker of its clients’ proceeds requires some “relationship” between the broker and the clients
• denying defendant’s motion for judgment on the pleadings and then explaining that analyzing forfeiture “before [defendant] has even been held liable for a securities violation” would be premature
• “[I]t is of no moment whether the initial offering was covered by a valid registration statement because the SEC has plausibly alleged that Verdmont later resold the securities for its clients in offerings bereft of separate registration statements.”

Source: CourtListener parenthetical corpus (CC0).