Month: June 2007

LIABILITY IN SECURITIES FRAUD DAMAGE ACTIONS: Part IV – The Bright Line Test And Primary Liability

A second test for determining who is a primary violator began with a decision of the Tenth Circuit Court of Appeals and evolved through subsequent decisions by the Second, Fifth and Eleventh Circuits. In its 1996 decision in Anixter v.

More Parallel Proceedings Issues

The SEC, DOJ and other regulatory authorities are conducting an increasing number of parallel investigations.  While those proceedings offer potential efficiencies for both the government and persons involved, they also offer potential downfalls, as yesterday’s decision by the SEC demonstrates.