Logourl black
From our private database of 13,800+ case briefs...

United States v. Bilzerian

United States Court of Appeals for the Second Circuit
926 F.2d 1285 (1991)


Facts

In 1985, Paul Bilzerian (defendant) solicited funds from investors in order to purchase securities from several different corporations. These purchases were large enough to require disclosure to the Securities and Exchange Commission (SEC). In his disclosure, Bilzerian stated that the securities in question were purchased with his own personal funds, not through the pooling of funds from other investors. When this false statement was discovered, the United States (plaintiff) brought criminal charges against Bilzerian for violation of §§ 10(b) and 32 of the Exchange Act. At trial, Bilzerian testified on his own behalf, stating that he did not intend to violate securities laws. He then moved to avoid cross-examination regarding conversations with his attorney related to the alleged violation of securities laws. The specific conversations he sought to suppress were normally protected by attorney-client privilege. The district court rejected Bilzerian’s motion, stating that his testimony regarding his intention to violate securities laws would open the door to cross-examination on the same subject, which included conversations with his attorney that were normally privileged. Bilzerian then appealed to the Second 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, start your 7-day free trial of Quimbee for Law Students.

Issue

The issue section includes the dispositive legal issue in the case phrased as a question. To access this section, start your 7-day free trial of Quimbee for Law Students.

Holding and Reasoning (Cardamone, 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, start your 7-day free trial of Quimbee for Law Students.

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 166,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 13,800 briefs, keyed to 187 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.