SmartBrief
Confirm favorite deletion?
Business Associations Keyed to Coffee, 9th Ed.
Cannon v. U.S. Acoustics Corp.
Citation:
398 F. Supp. 209 (1975), aff'd in part, 532 F.2d 1178 (1976)Facts
Charles Cannon and other shareholders filed a derivative action against U.S. Acoustics Corporation, its Panamanian subsidiary National Perlite Products, and individual officer-directors. The complaint alleged numerous violations of securities laws and corporate misconduct, including illegal stock options, issuance of stock for inadequate consideration, usurpation of corporate opportunities, and illegal profits retained by officers. The law firm of Baker & McKenzie filed appearances on behalf of both the corporate and individual defendants. Plaintiffs moved to disqualify this firm from representing the corporate defendants, arguing that dual representation created an inherent conflict of interest since the corporation would benefit from any judgment against the individual defendants. Defendants filed a cross-motion to disqualify plaintiff Cannon (who was a lawyer) and plaintiffs’ counsel, arguing that they had previously represented the defendants in substantially related matters. The evidence showed that Cannon had served as legal counsel for the corporations from 1968-1973, the period during which the alleged wrongdoing occurred. Plaintiffs’ counsel Giambalvo had performed limited legal services for Acoustics in 1970, preparing a pre-organization subscription agreement for a proposed Swiss corporation.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*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.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.