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Corporate Parent Liable Under § 20(a) For Subsidiary's Securities Violations |
July 18, 2008
Previously published on May 2008
In Laperriere v. Vesta Insurance Group, Inc., No. 06-14524, 2008 WL 1883482 (11th Cir. Apr. 30, 2008), the Eleventh Circuit held that a parent corporation can be held liable as a controlling person for federal securities violations committed by its subsidiary, although the liability is not necessarily joint and several.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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