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The private right of action under §10(b) of the
Securities Exchange Act of 1934 does not extend to aiders and abettors. Because the conduct of a secondary actor must therefore satisfy each of the elements for §10(b) liability, the plaintiff must prove reliance upon a material misrepresentation or
274:. Such defendants can only be held liable if their own conduct satisfies each of the elements for §10(b) liability. Therefore, the plaintiff must prove reliance, in making a decision to acquire or hold a security, upon a material misrepresentation or omission by the defendant.
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Investment Partners, L.L.C., Petitioner v. Scientific-Atlanta, Inc., et al.
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Walter, David (2008). "Developments in US Securities
Litigation: The Decision in
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as the "most important securities fraud case in years," and also commented by
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Central Bank of Denver, N.A. v. First
Interstate Bank of Denver, N.A.
266:, the Court held that "aiders and abettors" of fraud cannot be held
455:, Primary Liability, and the Need to Properly Define Section 10(b)"
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Breyer took no part in the consideration or decision of the case.
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United States
Supreme Court cases of the Roberts Court
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United States Court of
Appeals for the Eighth Circuit
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Stoneridge
Investment Partners v. Scientific-Atlanta
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Stoneridge
Investment Partners v. Scientific-Atlanta
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Stoneridge
Investment Partners v Scientific-Atlanta
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212:Kennedy, joined by Roberts, Scalia, Thomas, Alito
399:"StoneRidge Ruling Shields Third-Party Advisers"
355:Bravin, Jess; Scannel, Kara (January 16, 2008).
270:under the private right of action authorized by
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338:"Supreme Court Restricts Securities Lawsuits"
250:, 552 U.S. 148 (2008), was a decision by the
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96:1091; 76 U.S.L.W. 4039; Fed. Sec. L. Rep. (
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357:"Top Court Limits Shareholder Fraud Suits"
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262:. In a 5-3 decision authored by Justice
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397:McCollam, Douglas (January 15, 2008).
336:Greenhouse, Linda (January 15, 2008).
374:Wingfield, Brian (January 15, 2008).
18:2008 United States Supreme Court case
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220:Stevens, joined by Souter, Ginsburg
518:. You can help Knowledge (XXG) by
512:Supreme Court of the United States
36:Supreme Court of the United States
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585:United States Supreme Court stubs
570:United States securities case law
565:United States Supreme Court cases
428:case – much ado about nothing?".
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430:Journal of Investment Compliance
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260:Securities Exchange Act of 1934
575:2008 in United States case law
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510:This article related to the
424:Edison, Andrew (2008). "The
252:United States Supreme Court
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376:"Stoneridge And The Court"
272:§10(b) of the Exchange Act
128:omission by the defendant.
449:Souza, Travis S. (2008).
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235:Section 10(b) of the
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386:on January 18, 2008.
88:128 S. Ct. 761; 169
361:Wall Street Journal
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184:Ruth Bader Ginsburg
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258:under the
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92:627; 2008
60:Docket no.
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90:L. Ed. 2d
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