Louis P. Singer, as Successor in Interest to Troster, Singer & Co., Cross-Appellant v. Olympia Brewing Company, Cross-Appellee

How courts have described this case

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

• holding that “federal law should determine whether a defendant in a federal securities action is entitled to a credit . . . for the settlement by another party,” particularly as the question of damages is a substantive rather than procedural matter
• holding common damages are based on amount actually recovered rather than “provable damages” that could have been recovered against the settling defendant
• reasoning that the federal settlement credit rule should “be the one satisfaction rule, which provides that a plaintiff is entitled to only one satisfaction for each injury”
• stating that a court will not help a plaintiff achieve a total recovery that exceeds the amount received in the litigated case and that the reduction will be assessed against the court judgment
• adoption of state statutes governing credit for settlement in securities cases would lead to disparate results
• \[W]hether to credit a defendant with a setoff affects substantive rather than procedural rights of the parties under the federal securities laws.\

Source: CourtListener parenthetical corpus (CC0).