Posts tagged litigation.

This week, the Supreme Court held that knowing distributors of another’s false statements still could be primarily liable under parts of Rule 10b-5, even though they didn’t “make” the statements under prior precedent.  The Lorenzo decision seems clear and common-sense on its face, but represents a battle in the weeds of an administrative case that’s likely to have significant ramifications over who private civil litigants can sue under the Securities Laws.

Rule 10b-5 prohibits any person from:

  • "employ[ing] any device, scheme or artifice to defraud" [Scheme]
  • "mak[ing ...
Posted in: SCOTUS
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