TJOFLAT, Chief Judge:
This appeal presents the issue of what must be proven to establish "controlling person" liability under section 20(a) of the Securities Exchange Act of 1934 (the "Act"), ch. 404, 48 Stat. 881, 899, 15 U.S.C. § 78t(a) (1994). We adopt the district court's test, and affirm its grant of summary judgment in favor of appellee.
I.
In the late 1960s, appellee Perry Mendel founded what became Kinder-Care, Inc. ("KCI"), a publicly...
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