Logourl black
From our private database of 14,200+ case briefs...

West v. Prudential Securities, Inc.

United States Court of Appeals for the Seventh Circuit
282 F.3d 935 (7th Cir. 2002)


Facts

James Hofman, a stockbroker for Prudential Securities, Inc. (Prudential) (defendant), privately told 11 of his customers that Jefferson Savings Bancorp (Jefferson) would definitely be acquired by another entity in the near future. In fact, Hofman was lying as there was no impending acquisition. The plaintiffs brought a class action suit against Prudential for securities fraud. The district court certified the plaintiffs’ class as everyone who bought Jefferson stock during the time that Hofman was lying about the acquisition, basing its decision on the fraud-on-the-market theory. Prudential filed an interlocutory appeal on the class certification issue.

Rule of Law

Issue

Holding and Reasoning (Easterbrook, 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 251,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 14,200 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.