Managed Funds, Inc v. Brouk, 87

Decision Date16 April 1962
Docket NumberNo. 87,87
Citation369 U.S. 424,82 S.Ct. 878,8 L.Ed.2d 6
PartiesMANAGED FUNDS, INC., v. J. John BROUK et al
CourtU.S. Supreme Court

R. Walston Chubb, for petitioner.

Forrest M. Hemker, for respondents Brouk and others.

William Stix, for respondents Baker and others.

Solicitor General Cox, Daniel M. Friedman, Allan F. Conwill and Walter P. North, for the Securities and Exchange Commission, as amicus curiae.

On Writ of Certiorari to the United States Court of Appeals for the Eighth Circuit.

PER CURIAM.

Upon the suggestion of mootness and the joint motion of counsel to vacate and remand, the judgment of the Court of Appeals is vacated and the case remanded to the District Court with directions to dismiss the cause of action as to the respondents.

Mr. Justice FRANKFURTER and Mr. Justice WHITE took no part in the consideration or decision of this case.

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18 cases
  • Young v. Nationwide Life Ins. Co.
    • United States
    • U.S. District Court — Southern District of Texas
    • 27 Abril 1998
    ... ... NATIONWIDE LIFE INSURANCE COMPANY, American Century Mutual Funds, Inc., American Century Investment Services, Inc., American Century ... The variable account mutual fund options offered by Nationwide are managed by, inter alia, the following well known mutual fund investment ... See Brouk v. Managed Funds, Inc., 286 F.2d 901, 918 (8th Cir.1961), vacated as ... ...
  • King v. Douglass
    • United States
    • U.S. District Court — Southern District of Texas
    • 23 Diciembre 1996
    ... ...      Plaintiffs' complaint, at 10, explains that unlike open-end funds, which can repeatedly hold public offerings of new shares, closed-end ... denied, 379 U.S. 961, 85 S.Ct. 649, 13 L.Ed.2d 556 (1965); Brouk v. Managed Funds, Inc., 286 F.2d 901 (8th Cir.), cert. denied, 366 U.S ... denied, 320 U.S. 210, 63 S.Ct. 1447, 87 L.Ed. 1848 (1943) ... 11. Defendants argue that such vague policy-based ... ...
  • Herpich v. Wallace
    • United States
    • U.S. Court of Appeals — Fifth Circuit
    • 14 Julio 1970
    ... ... v. Jefferson Electric Co., 317 U.S. 173, 176, 63 S.Ct. 172, 174, 87 L.Ed. 165 (1942). The broad remedial purposes of the Exchange Act suggest ... Only the Eighth Circuit has reached the opposite conclusion, Brouk v. Managed Funds, Incorporated, 8 Cir., 1961, 286 F.2d 901, vacated as ... ...
  • Fogel v. Chestnutt
    • United States
    • U.S. Court of Appeals — Second Circuit
    • 17 Diciembre 1981
    ... ... the attention of the Adviser by the SEC and had been taken by other funds ...         Appellants must concede that the Supreme Court has ... (2) when investment companies are organized, operated, managed, or their portfolio securities are selected, in the interest of directors, ... of an implied cause of action for damages under the ICA was Brouk v. Managed Funds, Inc., 286 F.2d 901 (8 Cir.), cert. granted, 366 U.S ... ...
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