Securities & Exchange Commission v. Thompson

How courts have described this case

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

• noting that seller “sought to expand its distribution to anyone interested who had $100,000 to invest . . . and made its instruments available to anyone willing to pay”
• noting that defendant “talked about the Instrument as though it were an investment”
• finding in favor of a security because the funds were used for growth of the company and to grow a reserve to fund a specific project, and noting that “sellers” of non-securities are ordinarily businesses motivated to correct cash-flow difficulties
• in reviewing a grant of summary judgment, “a court views the evidence and draws reasonable inferences therefrom in the light most favorable to the nonmoving party” (brackets and internal quotation marks omitted)
• issuer made its notes available to anyone willing to pay and sold the notes to 60 people
• “attractive interest rate . . . provides strong evidence that holders were interested primarily in . . . profit”

Source: CourtListener parenthetical corpus (CC0).