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Civil Procedure Keyed to Hazard
Parklane Hosiery Co. v. Shore
Citation:
439 U.S. 322, 99 S.Ct. 645, 58 L.Ed.2d 552 (1979)
ProfessorTodd Berman
CaseCast™ – "What you need to know"
Facts
Shore (Respondent) sued Parklane Hosiery, Co. and thirteen of its officers, directors, and stockholders (Petitioners) for issuing a materially false and misleading proxy statement during a merger. Respondent moved for partial summary judgment, arguing that the Petitioners were collaterally estopped from relitigating issues that had been resolved against them in a previous lawsuit. The previous lawsuit, brought by the SEC against Petitioners, entered a judgment that the Petitioners’ proxy statement was materially false and misleading.
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