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

Securities and Exchange Commission v. Manor Nursing Centers, Inc.

United States Court of Appeals for the Second Circuit
458 F.2d 1082 (1972)


Manor Nursing Centers, Inc. (defendant) offered 450,000 shares for sale to investors on an “all or nothing” basis. If all 450,000 shares were not sold by March 8, 1970, the shares would not be sold and the investors’ money would be returned. When the deadline passed, Manor had not sold all 450,000 shares, but did not return the investors’ money. The Securities and Exchange Commission (plaintiff) then brought suit against Manor for violating the prospectus requirement of § 10(a) of the Securities Act of 1933. The district court ruled in favor of the SEC. Manor contends that circumstances changed after issuing the prospectus, leading them to keep the funds in question. As a result, it appealed to the Second Circuit Court of Appeals.

Rule of Law


Holding and Reasoning (Timbers, 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 410,000 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