From our private database of 35,600+ case briefs...
Securities and Exchange Commission v. Ralston Purina Co.
United States Supreme Court
346 U.S. 119 (1953)
Facts
Ralston Purina Co. (defendant) offered its stock to its “key” employees for sale. “Key” employees included any employee eligible for a promotion, including many low-income workers that may not otherwise have the opportunity to engage in securities transactions. The Securities and Exchange Commission (plaintiff) brought an action against Ralston, alleging that the sale of stock by Ralston required it to register said stock. Ralston argued that the sale was exempted as a private offering since the stock was only offered to employees. The district court ruled in favor of Ralston, with the court of appeals affirming. The SEC then petitioned for certiorari to the United States Supreme Court.
Rule of Law
Issue
Holding and Reasoning (Clark, J.)
What to do next…
Here's why 619,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 35,600 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.