Lakonia Management Ltd. v. Meriwether

How courts have described this case

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

• concluding that shareholder lacked standing to assert derivative RICO claim in individual capacity, even though he could not bring the claim derivatively because he no longer owned shares in the company
• characterizing “direct/derivative dichotomy as an issue of proximate cause” in the civil RICO context
• stating “no unfairness” in dismissing suit for lack of standing when former shareholder had knowledge of allegedly objectionable conduct before sale of shares and had opportunity to bring derivative action but did not
• looking to offering memorandum, subscription agreement, and partnership agreement on motion to dismiss
• “A decrease in value of a holder’s shares which merely reflects the decrease in value of the firm as a result of the alleged illegal conduct is derivation rather than direct in nature and cannot confer individual standing under RICO.”
• finding “unjustified . . . and harmful” conduct not deceptive

Source: CourtListener parenthetical corpus (CC0).

Cited by

12 cases in this archive cite this case.

• Craig Outdoor Advertising, Inc. v. Viacom Outdoor, Inc.
  Eighth Circuit· 2008-06-04· cited 88×
• G-I Holdings, Inc. v. Baron & Budd
  S.D. New York· 2002-07-17· cited 37×
• Jordan (Bermuda) Investment Co. v. Hunter Green Investments Ltd.
  S.D. New York· 2001-07-19· cited 26×
• USA CERTIFIED MERCHANTS, LLC v. Koebel
  S.D. New York· 2003-05-14· cited 21×
• Palatkevich v. Choupak
  S.D. New York· 2016-01-21· cited 18×
• Kommer v. Bayer Consumer Health
  S.D. New York· 2017-05-18· cited 18×
• Mackin v. Auberger
  W.D. New York· 2014-11-07· cited 14×
• Jordan (Bermuda) Investment Co. v. Hunter Green Investments Ltd.
  S.D. New York· 2002-06-19· cited 12×
• Eames v. Nationwide Mutual Insurance
  D. Delaware· 2006-02-02· cited 10×
• Hall v. Tressic
  N.D. New York· 2005-08-15· cited 2×
• Prichard v. 164 Ludlow Corp.
  S.D. New York· 2005-10-12· cited 2×
• Craig Outdoor v. Wally Kelly
  Eighth Circuit· 2008-06-04

Cites

30 cases in this archive are cited by this case; the 20 most cited are listed.

• Foman v. Davis
  Supreme Court· 1962-12-03· cited 17,205×
• Holmes v. Securities Investor Protection Corporation
  Supreme Court· 1992-03-24· cited 1,453×
• Schmuck v. United States
  Supreme Court· 1989-05-15· cited 1,390×
• Kailash C. Pani, M.D., and Kailash C. Pani, M.D., P.C. v. Empire Blue Cross Blue Shield
  Second Circuit· 1998-07-24· cited 568×
• Bankers Trust Company v. Daniel Rhoades, Herman Soifer and Milton Braten
  Second Circuit· 1988-10-03· cited 425×
• Cooper v. Parsky
  Second Circuit· 1998-04-02· cited 340×
• Martinez v. Simonetti
  Second Circuit· 2000-02-04· cited 326×
• McLaughlin v. Anderson
  Second Circuit· 1992-04-21· cited 223×
• Robert L. Moore and Jeannette S. Parry v. Painewebber, Inc.
  Second Circuit· 1999-08-20· cited 201×
• Atlantic Mutual Insurance Company v. Balfour Maclaine International Ltd.
  First Circuit· 1992-06-24· cited 198×
• Denny v. Barber
  Second Circuit· 1978-05-17· cited 167×
• De Jesus v. Sears, Roebuck & Co.
  Second Circuit· 1996-06-25· cited 165×
• Cresswell v. Sullivan & Cromwell
  Second Circuit· 1990-12-10· cited 160×
• S.Q.K.F.C., Inc. v. Bell Atlantic Tricon Leasing Corporation
  Second Circuit· 1996-05-28· cited 156×
• Harold Warren v. Manufacturers National Bank of Detroit, a National Banking Association
  Sixth Circuit· 1985-04-16· cited 139×
• Dangler v. New York City Off Track Betting Corp.
  Second Circuit· 1999-09-23· cited 110×
• Rent Stabilization Ass'n of City of New York v. Dinkins
  Second Circuit· 1993-09-01· cited 92×
• Odyssey Re (London) Ltd. v. Stirling Cooke Brown Holdings Ltd.
  S.D. New York· 2000-02-25· cited 88×
• Department of Economic Development v. Arthur Andersen & Co.
  S.D. New York· 1996-04-02· cited 72×
• In Re Sumitomo Copper Litigation
  S.D. New York· 1998-03-11· cited 56×