Supreme Court Limits 10b-5 Liability to Companies and Company Officials Making Statements to the MarketJohn Charles Dwyer,Koji F. Fukumura,William E. Grauer,Michael J. Klisch,Robert B. Lovett,Jessica Valenzuela Santamaria, June 17, 2011
On June 13, 2011, the United States Supreme Court issued a decision resolving the question of who may be deemed to have made a misrepresentation for purposes of primary liability in a private action under Rule 10b-5 and Section 10(b) of the Securities Exchange Act. In Janus Capital Group, Inc. v....