United States v. Wehr

How courts have described this case

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

• concluding that “the presumption of market efficiency, which would support an application of the fraud on the market theory, does not apply [to the OTC stock at issue]”
• holding that “mere presence of market makers does not indicate market effieiency”
• noting that the \number of market makers\ factor has in practice proven an unreliable measure of market efficiency unless tied to trade volume and price
• noting that the “number of market makers” factor has in practice proven an unreliable measure of market efficiency unless tied to trade volume and price
• holding that “mere presence of market makers does not indicate market efficiency”
• finding that a low float, i.e., a small percentage of shares held by the public in contrast to the percentage held by insiders, weighs against a finding of market efficiency

Source: CourtListener parenthetical corpus (CC0).