Law Commons^™

Federal Jurisdiction, Ronald J. Mann

Faculty Scholarship

One important task of the federal judiciary is to resolve cases presenting tensions between national and state governments. The United States Court of Appeals for the Fifth Circuit justly is renowned for its work in this area. One major, if not sensational, arena in which these tensions surface is in cases presenting issues of federal jurisdiction, pursuant to which federal courts allocate power between the national and state judicial systems.

During the survey period the Fifth Circuit published almost one hundred opinions dealing with substantive issues of federal jurisdiction. Like others before me, I have not undertaken in this essay …

Securities Law Fifth Circuit Symposium, Steve Thel

Faculty Scholarship

The Fifth Circuit decided some important securities cases during the survey period and issued some interesting opinions. Although the court consistently claimed a conservative reliance on precedent and seldom acknowledged making new law, it interpreted some well-established doctrine in surprising ways. The past year's opinions in fraud cases provide guidance in the related areas of reliance, damages, and plaintiff's due diligence. The year also witnessed important developments in the law governing the relationship between brokerage firms and their clients. The most spectacular development in this area during the survey year was the October collapse in security prices. In light of …