In the Matter of Kevin Aoki, et al., Petitioners,v.Echo Aoki, et al., Respondents.---------------------------------Devon Aoki, et al. Respondents, Keiko Ono Aoki, Appellant.
375 U.S. 180 (1963) Cited 659 times 38 Legal Analyses
Holding that an investment adviser who purchases a security for his own account and then recommends the same security to his client without disclosing that ownership violates the antifraud provision of the Act and breaches his fiduciary duty
Holding no clear intent to strip traditional discretion in statute that provided that an injunction or other order "shall be granted" "upon a showing ... that [the defendant] has engaged or is about to engage in [prohibited] acts or practices"
Noting the "fundamental principle that ... the acts of agents, ... while acting within the scope of their authority are presumptively imputed to their principals"
In Aegis Group, the Court of Appeals corrected the Second Circuit's statement that "[the Court of Appeals] has recognized a parallel judicially-created part performance exception to [N.Y. Gen. Oblig. Law] § 5-701" and clarified that "[it had] not in fact adopted that proposition."
In Matter of Greiff, 92 N.Y.2d 341 (1998), the Court of Appeals considered the proper burden of persuasion as to the legality and enforceability of a prenuptial agreement, without considering promissory estoppel.