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Implied Private Right Of Action Under Section 17 Of The Securities Exchange Act Of 1934, Andrew Bor
Implied Private Right Of Action Under Section 17 Of The Securities Exchange Act Of 1934, Andrew Bor
Vanderbilt Law Review
The Securities Exchange Act of 1934 created the Securities and Exchange Commission (SEC) and vested it with broad regulatory and enforcement powers. While one of the purposes of the Act is to protect investors, the SEC has long recognized that it lacks the resources to fully accomplish that goal. Consequently, plaintiffs injured by actions in violation of the Act have sought remedies in the federal courts that have been willing to imply private rights of action under the securities laws. Recently, however, the Supreme Court has indicated that it will restrict the scope of remedies available to private litigants, thus …