X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Recent Supreme Court decisions have placed restrictions on the implied private right of action for securities fraud asserted under §10(b) of the Securities Exchange Act and Rule 10b-5 promulgated thereunder. Although the Securities and Exchange Commission (SEC) is not required to plead and prove the elements of reliance, loss causation and damages, the applicability to the SEC of some of the judicially created private action limitations is less clear. Most recently, on June 24, 2010, in Morrison v. Nat’l Australia Bank Ltd.1 the U.S. Supreme Court limited the territorial scope of §10(b) and held it applies only to prohibited conduct “in connection with the purchase or sale of a security listed on a national stock exchange and the purchase or sale of any other security in the United States.”

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.