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Lorenzo v. SEC: the supreme court rules on scheme liability under the federal securities laws

Susan Hurd (Alston & Bird LLP, Atlanta, Georgia, USA)
Mel Gworek (Alston & Bird LLP, Atlanta, Georgia, USA)
Evan Glustrom (Alston & Bird LLP, Atlanta, Georgia, USA)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 19 June 2019

Issue publication date: 23 July 2019

Abstract

Purpose

To analyze the impact of the Supreme Court’s decision in Lorenzo v. SEC.

Design/methodology/approach

Discusses the lead up to the decision, the arguments made by both sides, and the opinion of the Court, and makes predictions about the likely impact of the decision.

Findings

The holding is unlikely to have a significant impact on private securities litigation as shareholders, unlike the SEC, are required to prove reliance and, under the Lorenzo fact pattern, reliance cannot be shown.

Originality/value

Expert analysis and guidance from experienced securities litigation counsel.

Keywords

Citation

Hurd, S., Gworek, M. and Glustrom, E. (2019), "Lorenzo v. SEC: the supreme court rules on scheme liability under the federal securities laws", Journal of Investment Compliance, Vol. 20 No. 2, pp. 45-47. https://doi.org/10.1108/JOIC-04-2019-0021

Publisher

:

Emerald Publishing Limited

Copyright © 2019, Alston & Bird LLP.