Rule 10b-5 Liability: The Second Circuit and 'Rio Tinto'

Part Three of a Three-Part Article The first two installments exposited Janus Capital Group, Inc. v. First Derivative Traders and Lorenzo v. S.E.C., both essential to understanding S.E.C. v. Rio Tinto, the Second Circuit's most recent holding regarding Rule 10b-5 "scheme" liability. Now we examine how the "Mother Court" of federal securities law has tended to that branch of the mighty judicial oak rooted in that venerable regulation.

8 minute read June 01, 2023 at 12:03 AM
By
Anthony Michael Sabino
Rule 10b-5 Liability: The Second Circuit and 'Rio Tinto'

In the first two installments, I exposited Janus Capital Group, Inc. v. First Derivative Traders, 564 U.S. 135 (2011), and Lorenzo v. S.E.C., 587 U.S. ___, 139 S. Ct. 1094 (2019), respectively, both essential to understanding S.E.C. v.

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