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Randall Vs. Loftsgaarden

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  • US Supreme Court
  • Jul 02, 1986

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70 entries 4 linked 66 unlinked
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  1. Aaron Vs. Sec US Supreme Court · Jun 02, 1980
  2. United Housing Foundation, Inc. Vs. Forman US Supreme Court · Jun 16, 1975
  3. United States Vs. Naftalin US Supreme Court · May 21, 1979
  4. J. I Case Co. Vs. Borak US Supreme Court · Jun 08, 1964
  5. U.S. 647 (1986) U.S. Supreme Court Randall v. Loftsgaarden
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  6. U.S. 647 (1986) Randall v. Loftsgaarden
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  7. Austin v. Loftsgaarden
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  8. Id. at 181 (quoting Garnatz v. Stifel
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  9. after a second panel ruled on various subsidiary issues, the Court of Appeals reconsidered the case en banc. Austin v. Loftsgaarden
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  10. Relying in part on the law of the case, and noting that the Second Circuit had reached a similar result in Salcer v. Envicon
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  11. substantially equivalent to the damages permitted under section 28(a). Cf. Affiliated Ute Citizens v. United
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  12. benefits for purposes of calculating damages in federal securities fraud litigation. 474 U.S. 978 (1985). See Burgess v. Premier
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  13. prescribes the remedy of rescission except where the plaintiff no longer owns the security. See Wigand v. Flo-Tek
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  14. the starting point in construing a statute is the language of the statute itself. E.g., Santa Fe Industries, Inc. v. Green
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  15. U. S. 680 , 446 U. S. 695 (1980) (quoting Ernst & Ernst v. Hochfelder
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  16. This Court's decision in United Housing Foundation, Inc. v. Forman
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  17. security at common law. See Brief for United States and SEC as Amici Curiae 13. Cf. Cereal Byproducts Co. v. Hall
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  18. S.Rep. No. 47, 73d Cong., 1st Sess., 1 (1933). See also United States v. Naftalin
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  19. any tax benefits received by petitioners. Page 478 U. S. 661 The Court of Appeals relied on Globus v. Law
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  20. Radzanower v. Touche
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  21. Ross & Co., 426 U. S. 148 , 426 U. S. 154 (1976) (quoting United States v. United
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  22. U.S. at 426 U. S. 154 , quoting Posadas v. National
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  23. City Bank, 296 U. S. 497 , 296 U. S. 503 (1936). Cf. Herman & MacLean v. Huddleston
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  24. b) is an unsettled one. In Affiliated Ute Citizens v. United
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  25. b) cases involving fraud by a seller of securities, see, e.g., Harris v. American
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  26. Loss, at 1133. See, e.g., Blackie v. Barrack
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  27. for guidance in defining the scope of this limitation. Merrill Lynch, Pierce, Fenner & Smith v. Curran
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  28. Blue Chip Stamps v. Manor
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  29. Janigan v. Taylor
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  30. F.2d 781, 786 (CA1), cert. denied, 382 U.S. 879 (1965). See also Falk v. Hoffman
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  31. will apply in cases of rescission, thus making the recovery taxable as ordinary income. See Hillsboro National Bank v. Commissioner
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  32. Bateman Eichler, Hill Richards, Inc. v. Berner
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  33. U. S. 299 , 472 U. S. 310 (1985) (quoting J. I. Case Co. v. Borak
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  34. concerning tax benefits is ordinarily so speculative as to be beyond the jury's province. Cf. Norfolk & Western R. Co. v. Liepelt
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  35. held that investors may sue for fraud where a tax shelter investment has not produced promised tax benefits. See Sharp v. Coopers
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  36. New Colonial Ice Co. v. Helvering
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  37. they delayed tender or suit in order to increase their expected recovery should the market decline. See, e.g., Baumel v. Rosen
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  38. Affiliated Ute Citizens v. United
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  39. the value of the tax write-offs that the construction and operation of the underlying asset will generate. See Salcer v. Envicon
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  40. Equities Corp., 744 F.2d 935, 938, 940 (CA2 1984), vacated and remanded, post, p. 1015. See also Austin v. Loftsgaarden
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  41. ways. First, the promoter may have misled him with respect to the level of potential tax benefits. See, e.g., Lasker v. Bear
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  42. Sharp v. Coopers
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  43. This is not, however, to say, as the Court of Appeals did, see Austin v. Loftsgaarden
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  44. a major portion of what the investor bargains for and purchases in a tax shelter is the tax benefit. See Salcer v. Envicon
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  45. a benefit of his bargain as are dividends that flow from a securities investment. Cf. United Housing Foundation, Inc. v. Forman
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  46. U.S. Supreme Court Randall v. Loftsgaarden
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  47. Garnatz v. Stifel
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  48. Salcer v. Envicon
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  49. Cf. Affiliated Ute Citizens v. United
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  50. See Burgess v. Premier
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