Securities & Exchange Commission v. Better Life Club of America, Inc.

How courts have described this case

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

• noting that the Federal Tort Claims Act “reserves immunity for claims based on discretionary regulatory functions,” which includes investigating and prosecuting under § 21 of the Securities Acts
• granting summary judgment for SEC where defendant “hatched the Advertising Pool scheme, oversaw its marketing, sale, and operation, and managed the finances”
• finding mortgage payments and trade-in credit untainted and provable funds that were probably reimbursable since they were not ill-gotten
• finding mortgage payments and trade-in credit untainted and provable funds that were probably reimbursable since they were not ill-gotten
• holding Section 21(g) barred defendant’s counterclaims
• “The test of materiality is whether a reasonable investor would consider the representations important.”

Source: CourtListener parenthetical corpus (CC0).