Graham v. Securities & Exchange Commission

How courts have described this case

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

• concluding that fraud perpetrated on brokers who executed securities transactions, rather than the ac- tual investors, was in connection with the transactions
• concluding that estoppel was not applicable where SEC did not make “any representations at all” to petitioners
• noting as significant the absence of red flags in assessing one’s liability as an aider and abettor
• noting as significant the absence of red flags in assessing one’s liability as an aider and abetter
• consistent with circuit precedent prior to Section 104’s enactment, knowledge or recklessness is sufficient to satisfy scienter requirement for aiding and abetting liability
• “Of course, even if the NASD had done something to bind itself, that would not have bound the SEC.”

Source: CourtListener parenthetical corpus (CC0).