| Wharf (Holdings) Ltd. v. United Int'l Holdings, Inc. | |
|---|---|
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| Argued March 21, 2001 Decided May 21, 2001 | |
| Full case name | Wharf Holdings Limited, Petitioners, v. United International Holdings, Incorporated, Respondents |
| Citations | 532 U.S. 588 (more) 121 S. Ct. 1776; 149 L. Ed. 2d 845 |
| Case history | |
| Prior | Jury verdict in favor of defendant; upheld, 210 F.3d 1207 (10th Cir. 2000) |
| Holding | |
| An oral agreement to grant an option to buy stock, while secretly intending not to honor the option, violates the Securities Exchange Act of 1934. Tenth Circuit affirmed. | |
| Court membership | |
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| Case opinion | |
| Majority | Breyer, joined by unanimous |
| Laws applied | |
| Securities Exchange Act of 1934 | |
Wharf Holdings Ltd. v. United Int'l Holdings, Inc., 532 U.S. 588 (2001), was a United States Supreme Court case decided in 2001. The case concerned a provision of the Securities Exchange Act of 1934 dealing with manipulating and evading rules set by the SEC. The Court concluded that a secret understanding to violate an arrangement under the Act still constituted a violation, rejecting an argument that oral contracts were categorically excluded from the provision's coverage.