BLUE CHIP STAMPS V. MANOR DRUG STORES
421 U.S. 723 (1975)
NATURE OF THE CASE: Action under Rule 10b-5.
FACTS: Under a consent decree, Blue Chip Stamps (D) was to offer a substantial number of
its shares of stock to retailers who had used their stamp service in the past but who were
not previous shareholders. Manor Drug Stores (P) never bought any shares due to a
pessimistic report issued by D on the outlook of D. P alleges that D intentionally made this
prospectus overly pessimistic so that D could publicly sell the shares at a higher price.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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