Punch and Jurists

Capital Mgmt. Select Fund, Ltd v. Bennett, No. 08-6166-cv (L) (2nd Cir.) (670 F.3d 194) (January 10, 2012) (Judge Ralph K. Jr. Winter) by In a securities fraud action stemming from a broker's rehypothecation or other use of securities and other property held in customer brokerage accounts, the district court's …

S.E.C. v. Obus, No. 10-4749-cv (2nd Cir.) (693 F.3d 276) (September 6, 2012) (Judge John M. Jr. Walker) by In the SEC's suit against defendants for insider trading in violation of section 10(b) and Rule 10b-5 under both the classical and the misappropriation theories of insider trading, district court's grant …

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) by 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 …

S.E.C. v. Tambone, No. 07-1384 (1st Cir.) (597 F.3d 436) (March 10, 2010) (Judge Bruce M. Selya) by In this case, the First Circuit, sitting en banc, rejected the SEC’s “expansive interpretation” of Rule 10(b)(5) (codified at 17 C.F.R. § 240.10b-5(b)) and held that one may not be held liable …