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Securities Regulation Keyed to Coffee
Securities and Exchange Commission v. Unifund SAL
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*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
- 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.
- Case Key Terms, Acts, Doctrines, etc.: A case specific Legal Term Dictionary.
- Case Doctrines, Acts, Statutes, Amendments and Treatises: Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
- Brief Facts: A Synopsis of the Facts of the case.
- Rule of Law: Identifies the Legal Principle the Court used in deciding the case.
- 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:
An action was brought against Unifund SAL (Unifund) and Tamanaco Saudi & Gulf Investment Group (Tamanaco) by the SEC for purported insider trading in Rorer Group, Inc. (Rorer), a U.S. pharmaceutical company, stock. Secret merger phone discussions were conducted by Rorer and Rhone-Poulenc, Inc. Large number of shares was bought by both Unifund and Tamanacoof Rorer stock prior to the discussions being announced publically, shares that became considerably more valuable post announcement. An action was initiated by the SEC against the two firms for purported insider trading in violation of § 10(b) of the Securities Exchange Act. Civil procedure and injunctive relief were sought. The SEC speculated about potential sources but was never able to provide the source of the firms' purported inside information. The district court issued a preliminary injunction preventing Unifund and Tamanaco from violating § 10(b) in the future and freezing ample assets to handle any potential civil penalties. Unifund and Tamanaco appealed.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
- Holding: Shares the Court's answer to the legal questions raised in the issue.
- Concurring / Dissenting Opinions: Includes valuable concurring or dissenting opinions and their key points.
- Reasoning and Analysis: Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
- Policy: Identifies the Policy if any that has been established by the case.
- Court Direction: Shares where the Court went from here for this case.