Logourl black
From our private database of 14,100+ case briefs...

Securities and Exchange Commission v. Yun

United States Court of Appeals for the Eleventh Circuit
327 F.3d 1263 (2003)


Facts

Donna Yun (defendant) was the wife of an executive at Scholastic Corporation, David Yun. Mr. Yun attended a meeting in which he was told that Scholastic’s earnings would decrease in the first quarter of 1997. Mr. Yun provided this information to Ms. Yun, as he thought it was relevant to a post-nuptial agreement in which they were entering. Ms. Yun, a real estate broker, discussed this information with her attorney while she was in her office. At this time, her friend and coworker with whom she would share commissions on sales, Jerry Burch, entered her office to retrieve a file. Burch overheard Ms. Yun’s conversation with her attorney. Later that evening, Burch and Ms. Yun carpooled together to a real estate function. The following day, Burch purchased put options in Scholastic. After Scholastic announced it would have lower earnings in the first quarter, Burch made a 1,300 percent return on his investment. The Securities and Exchange Commission began to investigate Yun, and brought this action against her for violating § 10(b) of the Exchange Act. The district court ruled against Yun. She then appealed to the Eleventh Circuit Court of Appeals.

Rule of Law

The rule of law is the black letter law upon which the court rested its decision.

To access this section, please start your free trial or log in.

Issue

The issue section includes the dispositive legal issue in the case phrased as a question.

To access this section, please start your free trial or log in.

Holding and Reasoning (Tjoflat, J.)

The holding and reasoning section includes:

  • A "yes" or "no" answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

To access this section, please start your free trial or log in.

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 221,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 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.