Blue Chip Stamps v. Manor Drug Stores
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|Blue Chip Stamps v. Manor Drug Stores|
|Argued March 24, 1975|
Decided June 9, 1975
|Full case name||Blue Chip Stamps v. Manor Drug Stores|
|Citations||421 U.S. 723 (more)|
95 S. Ct. 1917; 44 L. Ed. 2d 539
|Prior history||Certiorari to the United States Court of Appeals for the Ninth Circuit|
|A private damages action under Rule 10b-5 is confined to actual purchasers or sellers of securities and the Birnbaum rule bars respondent from maintaining this suit.|
|Majority||Rehnquist, joined by Burger, Stewart, White, Marshall, Powell|
|Dissent||Blackmun, joined by Douglas, Brennan|
|Securities Act of 1933, 48 Stat. 74, as amended, 15 U.S.C. 77a et seq.|
Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (1975), was a decision by the United States Supreme Court, which ruled that only those suffering direct loss from the purchase or sale of stock had standing to sue under federal securities law.
- Hawkins, C. (1975). "Standing to Sue for Violations of the Federal Securities Laws—the Birnbaum Doctrine". Arkansas Law Review. 29: 538. ISSN 0004-1831.
- Mullaney, Thomas J. (1977). "Theories of Measuring Damages in Security Cases and the Effects of Damages on Liability". Fordham Law Review. 46: 277. ISSN 0015-704X.
- Text of Blue Chip Stamps v. Manor Drug Stores, 421 U.S. 723 (1975) is available from: Justia Library of Congress Oyez (oral argument audio)
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