The distinction between primary and secondary liability has been repeatedly litigated in securities damage cases, and to a lesser extent in SEC enforcement actions, since the Supreme Court handed down its decision in Central Bank of Denver v. First Interstate …
Year: 2011
SEC SETTLES SUITABILITY CASE TIED TO SELLING CDOs TO SCHOOLS
The Commission brought another enforcement action arising out of the multi-million loss suffered by five Wisconsin school districts induced to purchase highly leveraged notes tied to the performance of synthetic collateralized debt obligations or CDOs. In the Mater of RBC …
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