Reliance is a critical element of proof in a private securities fraud suit. Thus, in rejecting a theory of scheme liability two years ago, the Supreme Court predicated its decision in part on a close reading of the reliance element. …

THIRD CIRCUIT REJECTS “FRAUD-CREATED-THE-MARKET” THEORY Read More »

The Commission resolved another investment fund fraud action with two individual defendants. SEC v. Amante Corp., Civil Action No. 09-CIV-61716 (S.D. Fla. Filed Oct. 29, 2009) (discussed here). The action is all too familiar. The complaint names as defendants the …

ANOTHER PARTIALLY SETTLED INVESTMENT FUND FRAUD CASE Read More »