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Civil Procedure Keyed to Yeazell
Parklane Hosiery Co. v. Shore
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- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
The Respondent, Shore (Respondent), brought a stockholder’s class action suit against the Petitioner, Parklane Hosiery Co. (Petitioner), in a federal district court, alleging that Petitioner and 13 of its officer and directors issued a materially false and misleading proxy statement in connection with a merger. Before this action came to trial, the SEC filed suit against Petitioner, alleging that the proxy statement was materially false and misleading in the same respects as those that had been alleged in Respondent’s complaint. The district court in the SEC case found that the proxy statement was materially false and misleading in the respects alleged and entered a declaratory judgment to that effect. The Court of Appeals for the Second Circuit affirmed this judgment. Respondent in this case then moved for partial summary judgment against Petitioner, asserting that Petitioner was collaterally esopped from litigating the issues that had been resolved against them in the SEC action. The district court denied the motion on the ground that such an application of collateral estoppel would deny Petitioner its Seventh Amendment constitutional right to a jury trial. The Court of Appeals reversed. The Supreme Court of the United States (Supreme Court) reversed.
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