Fed. Sec. L. Rep. P 98,997 United States of America v. Paul Russo, Barbara Hosman, William Petrokansky

How courts have described this case

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

• concluding that the prosecutor’s behavior was improper where he created a “last minute” argument on rebuttal to which the defendant could not properly respond
• upholding mail fraud conviction against defendants who were “motivated by an intent to subvert the operation of normal market forces on the price of the stock rather than by legitimate investment concerns”
• endorsing a theory pursuant to which a broker-dealer for whom defendants worked engaged in stock parking and thereby “perpetrated a fraud on the market by divorcing the financial risk of owning [the parked stock] from legal ownership of the stock”
• endorsing a theory pursuant to which a 14 broker‐dealer for whom defendants worked engaged in stock parking and 15 thereby “perpetrated a fraud on the market by divorcing the financial risk of 16 owning [the parked stock] from legal ownership of the stock”
• “ample” circumstantial evidence established the defendants’ participation jn and knowledge of the planning and execution of securities violations
• defendants used short sales in concert with “unauthorized placements” and “parking” of stock in customers’ accounts to generate false credits that funded their “stock-kiting scheme” designed to artificially inflate stock prices

Source: CourtListener parenthetical corpus (CC0).