Goldmen v. New Jersey Bureau of Securities

Argued Thursday, May 21, 1998 Reargued Friday, December 4, 1998 (Opinion filed January 7, 1999) OPINION OF THE COURT This case raises a dormant commerce clause challenge to one aspect of the New Jersey Uniform Securities Law. The appellee, A.S. Goldmen & Co., Inc. (""Goldmen""), claims that N.J.S.A. § 49:3-60 (""§ 60"") violates the dormant commerce clause insofar as it authorizes the appellant New Jersey Bureau of Securities to prevent Goldmen from selling securities from New Jersey to buyers in other states where purchase of the securities was authorized by state regulators. The district court agreed, and granted summary judgment in favor of Goldmen. We hold that § 60 does not run afoul of the dormant commerce clause, and therefore reverse. I.