United States Third Circuit

Under 15 USC 78cc(b) of the Securities and Exchange Act of 1934, only "unlawful contracts," not "unlawful transactions" executed pursuant to lawful contracts, may be rescinded.

Appellate Information

• Argued 10/09/2001
• Decided 11/16/2001
• Published 11/16/2001

Judges

• Before:  SCIRICA, GREENBERG and COWEN, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Peter Konolige, Marcy L. Colkitt & Associates, P.C., Wayne, PA, James P. Kimmel, Jr. (argued), Kennett Square, PA, Attorneys for Appellant.


• For Appellees:
  
• Peter S. Russ (argued), Gregory J. Krock, Buchanan Ingersoll, Pittsburgh, PA, Attorneys for Appellee.