SEC Enforcement Actions Post-Janus

Law360, New York (October 12, 2011, 5:09 PM ET) -- The U.S. Supreme Court recently upset the U.S. Securities and Exchange Commission’s traditional approach to pursuing primary violators under Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. In Janus Capital[1], the high court established a bright-line test to determine whether a person can be held primarily liable for false statements under Rule 10b-5. The court ruled that only the “maker” of the statement, but not a person who substantially participates in the creation of the statement, can be held primarily liable under...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers