Quimbee logo
DMCA.com Protection Status
From our private database of 17,600+ case briefs...

Krim v. pcOrder.com, Inc.

United States Court of Appeals for the Fifth Circuit
402 F.3d 489 (5th Cir. 2005)


pcOrder.com, Inc. (PCOrder) (defendant) issued two public offerings of its stock. PCOrder filed a registration statement for each offering. A group of purchasers of PCOrder stock (plaintiffs) brought suit under § 11 of the Securities Act of 1933, alleging that the registration statements contained false information. Burke and Petrick were the lead plaintiffs. Burke and Petrick purchased shares at a time when 91 percent of PCOrder shares on the market were purchased via the public offerings. Burke and Petrick presented expert testimony stating that, given the number of shares they owned and the percentage of public-offering shares in the market at the time of purchase, there was close to a 100 percent chance that at least one of their PCOrder shares was purchased pursuant to one of the allegedly false registration statements. Nevertheless, the district court granted PCOrder’s motion to dismiss, finding that Burke and Petrick did not have standing under § 11. The court held that for a plaintiff to have such standing, 100 percent of the stock at issue must come directly pursuant to a public offering. Burke and Petrick appealed.

Rule of Law


Holding and Reasoning (Higginbotham, 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 458,000 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 458,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 17,600 briefs, keyed to 984 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