Recently by Arthur H. Aufses III
Finance
Second Circuit Addresses American Pipe Tolling And “Relation Back” In Federal Securities Class Actions
On June 27, 2013, the Second Circuit resolved a question of law that previously had been unsettled in this Circuit when it held, in In re IndyMac Mortgage-Backed Sec. Litig., No. 11-2998-cv(L), that the Supreme Court’s tolling rule established in American Pipe & Construction Co. v. Utah...
Read MoreSecurities & Exchange Commission (SEC)
Supreme Court Adopts Bright-Line Rule For Primary Liability Under Rule 10b-5
Over 15 years ago, in Central Bank of Denver, N.A. v. First Interstate Bank of Denver, N.A. , 511 U.S. 164 (1994), the Supreme Court held that Section 10(b) of the Securities Exchange Act and SEC Rule 10b-5 do not permit private civil plaintiffs to recover on an aiding and abetting theory....
Read MoreRegulatory & Compliance
SEC Adopts Dodd-Frank Whistleblower Rule
On May 25, 2011, by a 3-2 vote, the Securities and Exchange Commission adopted a final rule implementing the whistleblower incentives provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank"). In a previous Metropolitan Corporate Counsel article...
Read MoreSEC Proposes Rules To Implement Dodd-Frank Whistleblower Program
On November 3, 2010, by a unanimous vote, the Securities and Exchange Commission proposed rules to implement the whistleblower incentives and protection provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank"). Set forth in Section 922 of Dodd-Frank and...
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