In re Worlds of Wonder Securities Litigation
United States Court of Appeals for the Ninth Circuit
35 F.3d 1407 (1994)
- Written by Rocco Sainato, JD
Facts
World of Wonder, Inc. (WOW) (defendant) achieved great financial success with the sale of two of the most popular toys of the 1986 Christmas season, Teddy Ruxpin and Lazer Tag. The board of WOW predicted that the company had the potential to increase its sales, and as a result, it set out to raise capital by issuing bonds in 1987. WOW was unable to repeat its successes from the 1986 Christmas season, and defaulted on the bonds. WOW’s bondholders (plaintiffs) brought suit, alleging that the prospectus regarding the bonds contained several material misrepresentations of WOW’s financial situation. The district court ruled in favor of WOW. The bondholders then appealed to the Ninth Circuit Court of Appeals.
Rule of Law
Issue
Holding and Reasoning (Hall, J.)
What to do next…
Here's why 798,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 46,200 briefs, keyed to 988 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.