Savino v. EF Hutton & Co., Inc.

How courts have described this case

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

• finding that horizontal commonality was not present where money invested in each account “was not merged into a single investment fund” but rather each account “constituted a separate fund”
• holding no such allegation required
• “a ‘common enterprise’ should be found to exist within the meaning of Howey where there is vertical commonality ... ”
• narrow theory of “vertical commonality” requires “that the investment manager’s fortunes rise and fall with those of the investor.” (citation omitted) (emphasis supplied)
• investment of additional funds into a brokerage account which is a security constitutes a “purchase” of a security to the extent of the amount of the funds invested

Source: CourtListener parenthetical corpus (CC0).