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LANDRETH TIMBER CO. v. LANDRETH

No. 83-1961.

471 U.S. 681 (1985)

LANDRETH TIMBER CO. v. LANDRETH ET AL.

Supreme Court of United States.

Decided May 28, 1985

Attorney(s) appearing for the Case

James L. Quarles III argued the cause for petitioner. With him on the briefs were Russell B. Stevenson, Jr., and William F. Lee.

James A. Smith, Jr., argued the cause for respondents. With him on the briefs were Guy P. Michelson, Patricia H. Char, and Richard D. Vogt.*

JUSTICE POWELL delivered the opinion of the Court.

This case presents the question whether the sale of all of the stock of a company is a securities transaction subject to the antifraud provisions of the federal securities laws (the Acts).

I

Respondents Ivan K. Landreth and his sons owned all of the outstanding stock of a lumber business they operated in Tonasket, Washington. The Landreth family offered...

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