Cowin v. Bresler
United States Court of Appeals for the District of Columbia Circuit
741 F.2d 410 (1984)
- Written by Kelly Simon, JD
Facts
Daniel Cowin (plaintiff) owned a minority interest in Bresler & Reiner, Inc. (Bresler & Reiner), a publicly owned developer and manager of residential and commercial properties. Bresler and Reiner (defendants) and their families owned more than 79 percent of Bresler & Reiner stock. Cowin filed suit against Bresler and Reiner alleging multiple claims, including that they had made materially fraudulent statements to public shareholders that decreased the value of Bressler & Reiner stock, including Cowin’s minority interest in the company, and that the deceptive statements violated § 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. Cowin sought to enjoin the actions of Bresler and Reiner pursuant to § 10(b) and Rule 10b-5. Bresler and Reiner filed a motion to dismiss. The district court granted most elements of the motion, dismissing most of Cowin’s § 10(b) claims. Cowin appealed.
Rule of Law
Issue
Holding and Reasoning (Bork, J.)
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