Simons v. Cogan

How courts have described this case

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

• explaining that “creditors” are “holders of . . . debt” after analyzing the terms of the debentures setting forth the rights of bondholders
• reasoning that the \risks that the fiduciary duty concept was designed to address\ do not arise until convertible bonds are actually converted into stock
• explaining that a “standard” no-recourse provision in a bond indenture “provid[es] broadly that liability for breach of any obligation created by the indenture shall not attach to any stockholder, officer or director of the issuer, but such liability shall be limited to the corporation itself”
• “the purchaser ... is offered, and voluntarily accepts, a security whose myriad terms are highly specified”

Source: CourtListener parenthetical corpus (CC0).