green
Positive treatment
Quoted verbatim 3×
7.0 score
“reliance on the actual (filed) report is an essential prerequisite for a section 18 action and constructive reliance is not sufficient.”
Treatment trajectory · 1969 → 2026 · click a year to view as-of
1969
1997
2026
Top citers, strongest first. 22 distinct citers.
How cited ↗
discussed
Cited as authority (quoted)
Ross v. A. H. Robins Co.
reliance on the actual report is an essential prerequisite for a section 18 action and constructive reliance is not sufficient.
discussed
Cited as authority (quoted)
Ross v. A. H. Robins Company
reliance on the actual (filed) report is an essential prerequisite for a section 18 action and constructive reliance is not sufficient.
discussed
Cited as authority (quoted)
Ross v. A. H. Robins Company, Inc.
reliance on the actual 10k report is an essential prerequisite for a 18 action and constructive reliance is not sufficient.
discussed
Cited "see"
Securities & Exchange Commission v. DCI Telecommunications, Inc.
See Heit v. Weitzen, 402 F.2d 909, 913 (2d Cir.1968) (finding “in connection with” element met because “[i]t is reasonable to assume that investors may very well rely on the material contained in false corporate financial statements which have been disseminated in the market place, and in so relying may subsequently purchase securities of the corporation.”), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969); SEC v. Texas Gulf Sulphur Co., (“TGS”,), 401 F.2d 833 , 860 (2d Cir.1968) (en banc) (construing “in connection with” requirement to require “that the dev…
discussed
Cited "see"
Zimmerman v. Prime Medical Services, Inc.
See Heit v. Weitzen, 402 F.2d 909, 914 (2d Cir.1968) (denying motion to dismiss Rule 10(b)(5) complaint which alleged actual knowledge of misstatements in 10K Report), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969). 1 Peat Marwick argues that it can be liable for misstatements in the Annual Reports which it certified, but not for misstatements in the Quarterly Reports which it claims to have only “reviewed.” That contention is without merit.
cited
Cited "see"
Dura-Bilt Corp. v. Chase Manhattan Corp.
See Heit v. Weitzen, 402 F.2d 909, 912-14 (2 Cir 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
cited
Cited "see"
Elster v. Alexander
See Heit v. Weitzen, 402 F.2d 909, 916 (2d Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969); Barotz v. Monarch General, Inc., CCH Fed.Sec.L.
cited
Cited "see"
Anixter v. Home-Stake Production Co.
See Heit v. Weitzen, 402 F.2d 909 , 912-14 [2d Cir. 1968], cert, denied, 395 U.S. 903 [ 89 S.Ct. 1740 , 23 L.Ed.2d 217 ] (1969).
discussed
Cited "see"
Gross v. Diversified Mortgage Investors
For a claim under § 18, plaintiffs must allege actual reliance upon a false or misleading “statement in any application, report, or document filed [with the SEC] pursuant to this title. . . . ” 15 U.S.C. § 78r(a); see Heit v. Weitzen, 402 F.2d 909, 914 (2d Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969); Barotz v. Monarch General, Inc., CCH Fed.Sec.L.Rep. ¶ 94,933 at 97,237 (S.D.N.Y.1975).
cited
Cited "see"
Societe Generale De Banque v. Touche Ross & Co.
See Heit v. Weitzen, 402 F.2d 909 , 912-14 [2d Cir. 1968], cert. denied, 395 U.S. 903 [ 89 S.Ct. 1740 , 23 L.Ed.2d 217 ] (1969).
cited
Cited "see"
Tucker v. Arthur Andersen & Co.
See Heit v. Weitzen, 402 F.2d 909, 912-14 (2 Cir. 1968), cert. denied 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
cited
Cited "see"
Unicorn Field, Inc. v. Cannon Group, Inc.
See Heit v. Weitzen, 402 F.2d 909 (2nd Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969); Fischer v. Kletz, 266 F.Supp. 180 (S.D.N.Y.1967).
discussed
Cited "see"
Fed. Sec. L. Rep. P 94,069 Republic Technology Fund, Inc. v. The Lionel Corporation v. The New England Industries, Inc. v. The Lionel Corporation
(2×)
See Heit v. Weitzen, 402 F.2d 909, 912-914 (2 Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
cited
Cited "see"
Shapiro v. Merrill Lynch, Pierce, Fenner & Smith Inc.
See Heit v. Weitzen, 402 F.2d 909, 914 (2d Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
cited
Cited "see"
Cannon v. Texas Gulf Sulphur Company
See, Heit v. Weitzen, 402 F.2d 909 (2d Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
cited
Cited "see"
Superintendent of Insurance of New York v. Bankers Life & Casualty Co.
See Heit v. Weitzen, 402 F.2d 909, 913 (2d Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
discussed
Cited "see, e.g."
Armstrong v. AMERICAN PALLET LEASING INC.
Litig., 438 F.3d at 283; see also Howard v. Everex Sys., 228 F.3d 1057, 1063 (9th Cir.2000) (noting that “courts have required a purchaser’s actual reliance on the fraudulent statement under § 18(a), as opposed to the constructive reliance, or fraud-on-the-market, theory available under § 10(b)”) (citation omitted). “[C]onstructive reliance is not sufficient.” Heit v. Weitzen, 402 F.2d 909, 916 (2d Cir.1968) (“Reliance on the actual (filed) report is an essential prerequisite for a Section 18 action and constructive reliance is not sufficient.”), cert. denied, 395 U.S. 903 , 89…
discussed
Cited "see, e.g."
96 Cal. Daily Op. Serv. 8744, 96 Daily Journal D.A.R. 14,455 Dollard McGann Barry A. Bragger Peter Gershon Steven G. Cooperman, M.D. William S. Atherton Irving Scher Michael Patitucci, Jr. J. Floyd Johnson Schulman, Rogers, Gandal, Pordy & Becker v. Ernst & Young
See also Heit v. Weitzen, 402 F.2d 909 (2nd Cir.1968) (applying Texas Gulf to fraudulent annual reports, "as well as documents filed by the individual defendants with the SEC"), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969). 10 The Ninth Circuit adopted the Second Circuit's formulation.
discussed
Cited "see, e.g."
McGann v. Ernst & Young
See also Heit v. Weitzen, 402 F.2d 909 (2nd Cir.1968) (applying Texas Gulf to fraudulent annual reports, “as well as documents filed by the individual defendants with the SEC”), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
discussed
Cited "see, e.g."
McGann v. Ernst & Young
See also Heit v. Weitzen, 402 F.2d 909 (2nd Cir.1968) (applying Texas Gulf to fraudulent annual reports, “as well as documents filed by the individual defendants with the SEC”), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
discussed
Cited "see, e.g."
McGANN v. ERNST & YOUNG
See also Heit v. Weitzen, 402 F.2d 909 (2nd Cir.1968) (applying Texas Gulf to fraudulent annual reports, "as well as documents filed by the individual defendants with the SEC"), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969). 10 The Ninth Circuit adopted the Second Circuit's formulation.
cited
Cited "see, e.g."
Stromfeld v. Great Atlantic & Pac. Tea Co., Inc.
Robins Co., 607 F.2d 545, 552 (2d Cir. 1979); see also Heit v. Weitzen, 402 F.2d 909, 916 (2d Cir. 1968), cert. denied, 395 U.S. 903 , 89 S.Ct. 1740 , 23 L.Ed.2d 217 (1969).
Retrieving the full opinion text from the archive…
Weitzen
v.
Heit
v.
Heit
No. 894.
Supreme Court of the United States.
May 19, 1969.
John F. Sonnett for Grant et al., Devereux Milburn and John F. X. Peloso for Weitzen et al., Boris Kostelanetz for Belock Instrument Corp., and Wilbur H. Hecht for Lybrand, Ross Bros. & Montgomery, petitioners., William E. Haudek, Arthur W. Lichtenstein, and Lawrence Milberg for Heit et al., Samuel B. Pierce, Jr., for Tyminski, and Hyman Bravin for Levy, respondents., Solicitor General Griswold, Philip A. Loomis, Jr., David Ferber, and Donald M. Feuerstein filed a memorandum for the United States, by invitation of the Court, 393 U. S. 1074, in opposition.
Published
Citer courts: Second Circuit (2) · S.D. New York (1)
C. A. 2d Cir. Certiorari denied.