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Plausible Cause: Exploring The Limits Of Loss Causation In Pleading And Proving Market Fraud Claims Under Securities Exchange Act Section 10(B) And Sec Rule 10b-5, Robert N. Rapp
Robert N Rapp
This article explores the critical role of loss causation in pleading and proving fraud-on-the-market claims in private actions under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 thereunder. Loss causation is a separate, essential, element of any private action under these provisions, and weighs heavily on securities fraud class actions brought under the fraud-on-the-market theory. Claims in these cases are based on a security market price said to be made artificial by reason of materially false or misleading information disseminated into an efficient market, and which resets to a correct level when a disclosure event …
Misapplication Of The Federal Extraterritoriality Principle In Limiting The Scope Of Civil Remedies For Fraud Under State Blue Sky Laws, Robert N. Rapp
Misapplication Of The Federal Extraterritoriality Principle In Limiting The Scope Of Civil Remedies For Fraud Under State Blue Sky Laws, Robert N. Rapp
Robert N Rapp
States do not exercise extraterritorial power when a civil remedy for purchasers of securities victimzed by unlawful conduct in the offer and sale of those securities is invoked by out of state purchasers under the Blue Sky Law of the state in and from which the distribution of securities was undertaken. The Extraterritoriality Principle under the Dormant Commerce Clause of the U.S. Constitution does not bar the invocation of a post-transaction by out of state purchasers. A United States District Court misapplied the Extraterritoriality Principle by constructing a bright-line "transaction" test to cabin the territorial limit of a purchaser remedy. …
A "New" Fiduciary Duty For Stockbrokers? Keeping The Dodd-Frank Rule Debate In Perspective, Robert N. Rapp
A "New" Fiduciary Duty For Stockbrokers? Keeping The Dodd-Frank Rule Debate In Perspective, Robert N. Rapp
Robert N Rapp
No abstract provided.