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