United States First Circuit

Virtual shares in an enterprise existing only in cyberspace, part of a fantasy investment game created for the personal entertainment of Internet users, may fall within the purview of the federal securities laws.

Appellate Information

• Decided 09/13/2001
• Published 09/13/2001

Judges

• SELYA, Circuit Judge., Before BOUDIN, Chief Judge, SELYA and LIPEZ, Circuit Judges.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Mark Pennington, Assistant General Counsel, with whom David M. Becker, General Counsel, Jacob H. Stillman, Solicitor, and Meyer Eisenberg, Deputy General Counsel, were on brief, for appellant.


• For Appellees:
  
• Daniel I. Small, with whom Meaghan E. Barrett and Butters, Brazilian & Small, LLP were on brief, for appellees.