Ongstad, et al. v. Piper Jaffray & Co.
Docket Info
- Title
- Astrid Ongstad, individually and
as Trustee of the Ongstad Family Trust,
and on behalf of themselves and all
others similarly situated, Plaintiffs and Appellants
v.
Piper Jaffray & Co., Defendant and Appellee - Case Type
- CIVIL APPEAL : OTHER (Civil)
- Appeal From
-
Case No. 05-C-01876
South Central Judicial District, Burleigh County
Sonna M. Anderson
Highlight
A party seeking to invoke application of federal preemption under the Securities Litigation Uniform Standards Act ("SLUSA") must show that (1) the action is a "covered class action" under the Act; (2) the action purports to be based upon state law; (3) the action alleges the defendant misrepresented or omitted a material fact, or used or employed a manipulative or deceptive device or contrivance; and (4) the action alleges the defendant's misrepresentations, omissions, manipulations, or deceptions were made in connection with the purchase or sale of a covered security.
In determining whether a class action is barred under SLUSA, courts look to the actual nature of the conduct alleged, and plaintiffs may not avoid SLUSA's preemptive effect by creative or artful pleading.
SLUSA's preemptive reach must be broadly construed, and is coextensive with federal regulatory authority over securities fraud under Section 10b and Rule 10b-5.
When a broker purchases or sells securities on a client's behalf without authorization, the unauthorized transaction may constitute securities fraud.
(Note: Attachments may not be available for recently filed cases and/or confidential documents.)
| Seq. # | Filing Date | Description | Attachment |
|---|---|---|---|
| 1 | 09/04/2007 | NOTICE OF APPEAL : 08/31/2007 | |
| 2 | 09/04/2007 | ORDER FOR TRANSCRIPT : 08/31/2007 | |
| 3 | 10/15/2007 | Updated Affidavits of Barbara Quinn Smith, Mark E. Maddox, & Thomas K. Caldwell, pursuant to Rule 3 | |
| 4 | 10/15/2007 | Admission to Practice Rules | |
| 5 | 10/19/2007 | MOT. EXT/TIME TRANSCRIPT | |
| 6 | 10/19/2007 | ACTION BY TRIAL COURT (MTR) - Granted : 11/19/2007 | |
| 7 | 11/02/2007 | TRANSCRIPTS DATED October 16, 2006 & March 21, 2007 | |
| 8 | 11/02/2007 | DISK - TRA Oct. 16, 2006 & Mar. 21, 2007 | |
| 9 | 11/09/2007 | RECORD ON APPEAL (2 vol. & separates); not rec'd(40, 58, 81(court reporter notes)); 33(Aff. Serv.) | |
| 10 | 11/23/2007 | ANNOUNCED DISQUALIFICATION : VandeWalle, Gerald W. | |
| 11 | 11/27/2007 | George M. Garvey's Affidavit in compliance with ND Admission to Practice Rule 3(A)(5)(a) | |
| 12 | 12/07/2007 | MOT. EXT/TIME APPELLANT BRIEF | |
| 13 | 12/07/2007 | ACTION BY Chief Deputy CLERK - Granted : 01/11/2008 | |
| 14 | 12/10/2007 | Affidavit of Barbara Quinn Smith in Support of Motion for Extension of Time to file ATB | |
| 15 | 01/11/2008 | APPELLANT BRIEF (e-filed) (PDF) | View |
| 16 | 01/11/2008 | E-FILED BRIEF - ATB (PDF) | |
| 17 | 01/11/2008 | APPELLANT APPENDIX | |
| 18 | 01/11/2008 | Received $25 surcharge for ATB (Receipt #17980) | |
| 19 | 01/14/2008 | Affidavit of Service by e-mail, with attachments, of the revised ATB | |
| 20 | 01/18/2008 | Received 7 copies of ATB from Central Duplicating | |
| 21 | 01/25/2008 | MOT. EXT/TIME APPELLEE BRIEF | |
| 22 | 01/25/2008 | ACTION BY CLERK (MAE) - Granted : 02/28/2008 | |
| 23 | 03/03/2008 | Received $25.00 surcharge for AEB (Receipt #18041) | |
| 24 | 03/10/2008 | Updated Affidavits of James K. Langdon & Kristina W. Carlson | |
| 25 | 03/10/2008 | APPELLEE BRIEF (e-filed)(PDF) | View |
| 26 | 03/10/2008 | E-FILED BRIEF (AEB)(PDF) | |
| 27 | 03/14/2008 | Received 7 copies of AEB from Central Duplicating | |
| 28 | 03/14/2008 | REPLY BRIEF & ADDENDUM | View |
| 29 | 03/14/2008 | Addendum to Reply Brief | |
| 30 | 03/14/2008 | E-FILED BRIEF - RYB | |
| 31 | 03/20/2008 | Received 7 copies of RYB from Central Duplicating | |
| 32 | 03/27/2008 | SITTING WITH THE COURT : Narum, Daniel D. | |
| 33 | 04/04/2008 | Corrected page 5 for the ATB & page 3 for the RYB | |
| 34 | 04/04/2008 | Corrected e-filed copies of the ATB & RYB | |
| 35 | 04/14/2008 | APPEARANCES: Craig A. Boeckel and Barbara Quinn Smith; Todd E. Zimmermann, James K. Langdon, and | |
| 36 | 04/14/2008 | George M. Garvey | |
| 37 | 04/14/2008 | ARGUED: Smith; Langdon and Garvey | |
| 38 | 04/14/2008 | ORAL ARGUMENT WEBCAST | |
| 39 | 09/08/2008 | DISPOSITION | |
| 40 | 09/08/2008 | UNANIMOUS OPINION : Sandstrom, Dale V. | View |
| 41 | 09/09/2008 | Costs on appeal taxed in favor of appellee | |
| 42 | 09/08/2008 | Judgment Mailed to Parties | |
| 43 | 09/30/2008 | MANDATE | |
| 44 | 10/06/2008 | RECEIPT SIGNED BY DISTRICT COURT CLERK'S OFFICE | |
| 45 | 01/16/2019 | EXPUNGED - Nonpermanent record items destroyed |