[Download] "Flores v. Pierce" by Ninth Circuit United States Court of Appeals " Book PDF Kindle ePub Free
eBook details
- Title: Flores v. Pierce
- Author : Ninth Circuit United States Court of Appeals
- Release Date : January 07, 1980
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 55 KB
Description
A district court may appoint a receiver in a securities fraud action brought by the Securities and Exchange Commission (SEC). The somewhat novel question presented by this appeal is whether a district court may also issue a stay, effective against nonparties and without prior notice to them, prohibiting "all investors, creditors, and other persons" from "(commencing), prosecuting, continuing or enforcing any suit" against the receivership entities, except by leave of the court. Resolution of this case requires consideration of what securities law policies are furthered when a corporation not linked with the defendant in the SEC action is prevented from enforcing a prior state court judgment (and completing another prior state court proceeding) against a receivership entity.