Goodwin v. Agassiz
Supreme Judicial Court of Massachusetts
186 N.E. 659 (Mass. 1933)
Goodwin (plaintiff) owned stock in Cliff Mining Company (Cliff). Exploration on some of Cliff’s property was undertaken in 1925 in an attempt to find copper deposits. In March 1926, Agassiz and MacNaughton (defendants), directors of Cliff, learned of a geologist’s theory as to the existence of copper deposits in another part of Cliff’s property. The defendants thought that if the geologist’s theory was correct, Cliff’s stock would go up. Soon thereafter, in May 1926, the initial exploration was stopped because it was unsuccessful. At that time, Goodwin, with no knowledge of the geologist’s report, sold his stock in Cliff through a broker. The stock ended up being bought by the defendants. Goodwin brought suit against the defendants on the ground that the defendants’ nondisclosure of the geologist’s theory to Cliff’s stockholders was improper. The nondisclosure did not harm Cliff, but Goodwin claimed that he personally would not have sold his stock if he had known about the geologist’s theory.
Rule of Law
Holding and Reasoning (Rugg, C.J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 170,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 13,800 briefs, keyed to 187 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.