Fed. Sec. L. Rep. P 98,786 Prescott H. Rathborne v. J. Cornelius Rathborne

How courts have described this case

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

• analyzing whether transfer of securities from a wholly controlled subsidiary to its parent or between two corporations controlled by the same entity constituted a purchase or sale of securities giving rise to fraud clause under federal securities law
• fundamental change occurs when the plaintiff is left “with shares that represent a participation in [a] wholly new and different enterprise”
• “[W]here a securities transaction results in a fundamental change in the nature of a shareholder’s investment, leaving the plaintiff with shares that represent a participation in wholly new and different enterprise, the plaintiff may be considered a purchaser or seller.”

Source: CourtListener parenthetical corpus (CC0).