Quimbee logo
DMCA.com Protection Status
From our private database of 16,500+ case briefs...

Hertzberg v. Dignity Partners, Inc.

United States Court of Appeals for the Ninth Circuit
191 F.3d 1076 (1999)


Dignity Partners, Inc. (defendant) was a corporation that would purchase the life insurance policies of AIDS patients, and then take on the premium payments for the policies. Upon the patients’ deaths, Dignity Partners would receive the proceeds from the policies. In order to raise capital, Dignity Partners had one stock offering. Shortly after the offering, a study was released indicating that AIDS patients were living much longer than they had several years earlier. Dignity incurred many losses as a result, since it was forced to pay the premiums on the life insurance policies for much longer than it had previously. Hertzberg (plaintiff), a Dignity Partners stockholder, brought suit against Dignity Partners for failing to disclose this fact in its registration statement. The district court ruled in favor of Dignity Partners, stating that Hertzberg did not have standing under Section 11 because Hertzberg had purchased Dignity Partners stock more than 25 days after it had been issued. Hertzberg then appealed to the Ninth Circuit Court of Appeals.

Rule of Law


Holding and Reasoning (Fletcher, J.)

What to do next…

  1. 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.

  2. 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 409,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 16,500 briefs, keyed to 223 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.

Questions & Answers

Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial