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Client Alert: Supreme Court Expands the Scope of Potential Liability for Secondary Actors in Private Actions for Securities Fraud

On March 27, 2019, the United States Supreme Court held that persons who do not themselves make false or misleading statements in connection with the purchase or sale of securities can be primarily liable for those statements in private securities fraud actions if they knowingly participate in disseminating them in Lorenzo v. Securities and Exchange Commission, 587 U.S. – (2019). This Client Alert, authored by Partner James J. Boland, details what this could mean for your business.

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