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High Court Could Give SEC Tougher Road In Fraud Actions

Law360 (June 20, 2018, 9:27 PM EDT) -- By agreeing to hear an appeal of an investment banker found liable for fraud for copying and pasting his boss's fraudulent emails into a message to clients, the U.S. Supreme Court is expected to clarify the important distinction between primary and secondary liability in securities fraud cases, legal experts say.

A decision in favor of the petitioner, Francis V. Lorenzo, could make it more difficult for the U.S. Securities and Exchange Commission to pursue securities fraud actions by claiming defendants were primarily liable for the fraud,...
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