Janus Capital Group v. First Derivative Traders, No. 09-525 (U.S. Supreme Court) (564 U.S. 135; 131 S.Ct. 2296) (June 13, 2011) (Justice Thomas)
Here, a divided Court held that a mutual fund investment advisor cannot be held primarily liable in a private securities-fraud action under Rule 10b-5 for “participating in” misstatements included in a prospectus because it did not "make" those statements.
The case was brought by a group of investors, who claimed ...
Full article and associated cases available to subscribers.
As a digital subscriber to Punch and Jurists, you can access full text and downloads for this and other premium content.
Already a subscriber? Login