The Top 10 Obstacles to Litigating Securities Fraud Claims: Part I

Mintz
Contact

Introduction:

Congress passed the Securities Act of 1933, 15 U.S.C. §§ 77a et seq. (Securities Act), and the Securities Exchange Act of 1934, 15 U.S.C. §§ 78a et seq. (Exchange Act, collectively, the Acts) following the 1929 stock market crash that triggered the Great Depression. Prior to the passage of the Securities Act, President Franklin Roosevelt stated, “This proposal adds to the ancient rule of caveat emptor the further doctrine, ‘let the seller also beware.’ It puts the burden of telling the whole truth on the seller.” The Acts were intended to be clear statutes with clear violations.

However, over the past 80 years, both Congress and the courts have significantly weakened the Acts. Paying all due respect to the retiring David Letterman, this article is the first in a two part series that counts down the Top 10 obstacles to successfully litigating securities fraud claims under the Acts.

Originally published in the American Bar Association on December 5, 2014.

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© Mintz

Written by:

Mintz
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Mintz on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide