The U.S. Supreme Court on Wednesday boosted the power of federal law enforcement to pursue securities law violations.
In a 6-2 decision, the high court held in Lorenzo v. Securities and Exchange Commission that sending an email containing false or misleading statements with the intent to defraud violates federal securities laws even if the sender did not “make” the statements. Justice Brett Kavanaugh, who earlier took part in the case in the U.S. Court of Appeals for the D.C. Circuit, was recused. Kavanaugh wrote a dissent that favored the challenger.
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