Civil Procedure Keyed to Marcus
Parklane Hosiery Co. v. Shore
ProfessorTodd Berman
CaseCast™ – "What you need to know"
Facts
Before this action was filed, the Securities Exchange Commission (SEC) filed suit against the same Defendant in the federal district court, alleging that the proxy statement that had been filed was materially false and misleading in essentially the same fashion as was alleged by Respondent in the present case. After trial, the district court found that the proxy was materially false and misleading. The United States Court of Appeals for the Second Circuit affirmed. As a result, the Respondent in this matter moved for partial summary judgment, alleging that the Petitioner should be collaterally estopped from relitigating the issues that had been resolved against it in the first action. The district court denied the motion but the court of appeals reversed, finding that the Petitioner was collaterally estopped from obtaining a jury trial on the same issues of fact.
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