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Quotation from SEC v. Capital Gains Research Bureau, Inc. by Supreme Court of the United States
“The nondisclosed facts indicate no more than that the respondents personally profited from the foreseeable reaction to sound and impartial investment advice.”
SEC v. Capital Gains Research Bureau, Inc., Dissent of Justice Harlan (U.S. Reports text (Legal Information Institute))
Justice Harlan argues that the firm's trades did not amount to fraud under any common-law or equitable standard.
Citation: "The nondisclosed facts indicate no more than that the respondents personally profited from the foreseeable reaction to sound and impartial investment advice." — Supreme Court of the United States, SEC v. Capital Gains Research Bureau, Inc., Dissent of Justice Harlan (U.S. Reports text (Legal Information Institute)). (id sec-v-capital-gains-research-bureau-q5)
Portrait: Justice Arthur Goldberg - 1965 - A720-5, Yoichi Okamoto, Public domain.
