Joslyn v. Joslyn

How later courts describe this case

• allowing recovery of unrealized profits “where the jury finds that with full disclosure [the plaintiff] would have retained [the stock] until the higher price gained by the wrongdoer was reached.”
• "Rescission calls for cancellation of the bargain, and the return of the parties to the status quo ante ; ... (b
• the liability of controlling persons “is governed neither by principles of agency nor conspiracy.” Id. at 738
• “[T]here is no duty to disclose information to one who reasonably should already be aware of it.”
• jury instructed to consider before determining damages whether upon full disclosure plaintiffs would have still sold but at a higher price or would have retained stock
• Section 20(a) requires “only some indirect means of discipline or influence short of actual direction to hold a ‘controlling person’ liable,” meaning that “ ‘control’ under the Act does not require knowledge of the specific wrongdoing”
• respondeat superior available in Third Circuit under facts of case
• defendant need have no knowledge of specific wrongdoing