P. C. C. & St. L. R. R. v. Davis

How courts have described this case

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

• affirming in general language the lower court’s imposition of liability on an employee who represented himself as a fully licensed and registered representative of a brokerage house when in fact he was a trainee unauthorized to act
• loss causation \requires that the damage complained of be one of the foreseeable consequences of the misrepresentation\
• “there is no warrant for believing that Section 20(a) was intended to narrow the remedies of the customers of brokerage houses”
• The court held that the defendants had not acted intentionally or recklessly even though the circumstances indicated that there had been inadequate supervision and lax control by the defendants.
• loss causation “requires that the damage complained of be one of the foreseeable consequences of the misrepresentation”
• complaint that gives full notice of the circumstances giving rise to the plaintiff’s claim for relief need not also correctly plead the legal theory or theories and statutory basis supporting the claim

Source: CourtListener parenthetical corpus (CC0).