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Quotation from Transamerica Mortgage Advisors, Inc. v. Lewis by Supreme Court of the United States
“For the reasons stated in this opinion, we hold that there exists a limited private remedy under the Investment Advisers Act of 1940 to void an investment advisers contract, but that the Act confers no other private causes of action, legal or equitable.”
Transamerica Mortgage Advisors, Inc. v. Lewis, Opinion of the Court (Justice Stewart) (U.S. Reports text (Legal Information Institute))
Justice Stewart states the holding at the close of the majority opinion.
Citation: "For the reasons stated in this opinion, we hold that there exists a limited private remedy under the Investment Advisers Act of 1940 to void an investment advisers contract, but that the Act confers no other private causes of action, legal or equitable." — Supreme Court of the United States, Transamerica Mortgage Advisors, Inc. v. Lewis, Opinion of the Court (Justice Stewart) (U.S. Reports text (Legal Information Institute)). (id transamerica-mortgage-advisors-v-lewis-q4)
Portrait: US Supreme Court Justice Potter Stewart - 1976 official portrait, Robert S. Oakes, Public domain.
