2nd Circ. Asked To Revisit Landmark SEC Fraud Abettor Case

Law360, New York (September 24, 2012, 4:12 PM EDT) -- A securities fraud defendant urged the Second Circuit on Monday to reconsider a decision that makes it easier for the U.S. Securities and Exchange Commission to prove someone aided an existing fraud, saying the ruling upended decades of precedent.

Joseph P. Apuzzo asked the appeals court to conduct an en banc or full court rehearing of its landmark Aug. 8 ruling, which found that the SEC is not required to prove a defendant directly caused injuries in a securities fraud to bring claims for aiding and...
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