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Second Circuit Rejects Broad View of Secondary Liability Urged by SEC

May 4, 2010 in Banking Report · Leave a Comment 

Rejecting the Securities and Exchange Commission’s broad view of the liability of secondary actors for securities fraud, the U.S. Court of Appeals for the Second Circuit April 27 affirmed the dismissal of a securities class action against Mayer Brown LLP over the law firm’s alleged role in the massive fraud at…

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