In the case of Fox v. Standard Oil Company of New Jersey, 1934, the United States Supreme Court ruled in favor of Standard Oil. The plaintiff, Fox Film Corporation had sued for damages after a fire destroyed its property. The fire was caused by an explosion at a nearby oil storage facility owned by Standard Oil Company. However, the court found that there was no negligence on part of Standard Oil as they had taken all reasonable precautions to prevent such accidents and could not have foreseen or prevented this particular incident which occurred due to an act of vandalism (a third party opened one of their oil valves). Therefore, it held that without proof of negligence leading directly to damage suffered by another party, liability cannot be established under common law principles.

In the dissenting opinion for FOX v. STANDARD OIL COMPANY OF NEW JERSEY, Justice Stone argued that the majority's decision to dismiss Fox's claim was incorrect because it failed to consider whether Standard Oil had violated antitrust laws by selling gasoline at a loss in order to drive competitors out of business. He believed that this practice constituted predatory pricing and should be considered illegal under federal law. Furthermore, he disagreed with the majority’s view that Fox lacked standing as an indirect purchaser, arguing instead that any party injured by such anti-competitive practices should have legal recourse regardless of their position in the supply chain. In his view, denying such parties access to justice would undermine competition and harm consumers.