10th Circ.'s Securities Fraud Reading May Be Too Broad

Law360 (August 28, 2019, 1:45 PM EDT) -- On Aug. 13, in the first case by a circuit court to apply the U.S. Supreme Court’s recent decision in Lorenzo v. U.S. Securities and Exchange Commission,[1] the U.S. Court of Appeals for the Tenth Circuit held in Malouf v. SEC that the defendant could be liable under SEC Rules 10b-5(a) and (c) for knowingly failing to correct another party’s material misstatements in connection with a securities transaction.[2]

Dennis Malouf was an executive at two unrelated firms: a securities brokerage that was a subsidiary of Raymond James Financial Services Inc., and investment adviser UASNM Inc. Malouf sold his interest in the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!