Securities and Exchange Commission v. Jos. Schlitz Brewing Co.

452 F. Supp. 824 (1978)

From our private database of 45,900+ case briefs, written and edited by humans—never with AI.

Securities and Exchange Commission v. Jos. Schlitz Brewing Co.

United States District Court for the Eastern District of Wisconsin
452 F. Supp. 824 (1978)

Facts

Jos. Schlitz Brewing Company (Schlitz) (defendant) was a company that sold beer and malt beverages. The Securities and Exchange Commission (SEC) (plaintiff) brought an action against Schlitz, alleging that Schlitz had violated federal securities laws. These allegations included claims that Schlitz had failed to disclose a scheme in which Schlitz bribed retailers to purchase Schlitz’s products by giving the retailers kickbacks of over $3,000,000. Even though Schlitz was warned by the SEC that the practices had to be terminated, Schlitz failed to do so before the action was brought. Additionally, the SEC argued that: (1) Schlitz had failed to disclose its participation in violations of Spanish tax laws, and (2) Schlitz had falsified its records regarding the Spanish transactions. The SEC argued that due to these lack of disclosures, Schlitz’s financial statements, registration statements, periodic reports, and proxy materials were materially misleading. Schlitz moved for summary judgement.

Rule of Law

Issue

Holding and Reasoning (Gordon, 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 742,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead 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.

    Learn about our approachRead more about Quimbee

Here's why 742,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 45,900 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.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 742,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 45,900 briefs - keyed to 984 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership