Abandonment of the Private Right of Action for Aiding and Abetting Securities Fraud/staff Report on Private Securities Litigation: Hearing Before the Subcommittee on Securities of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Third Congress, Second Session, on Recent Securities Law Decisions by the U.S. Supreme Court, Central Bank of Denver Vs. First Interstate Bank of Denver ... May 12, 1994, Tom 4U.S. Government Printing Office, 1994 - 333 Distributed to some depository libraries in microfiche. |
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abetting liability accounting firms accounting profession action for aiding aiders and abettors aiding and abetting alleged amendment attorneys audit auditors Bank of Denver cause of action cent Central Bank decision Chairman civil class members clients Committee companies concerns Congress corporate costs counsel Court's decision defendants defrauded investors directors disclosure Exchange Commission Federal courts Federal securities laws fees filed frivolous litigation Hearing Record impose insider trading issue lawsuits lawyers legislation Lerach Manor Drug Stores meritless Metzenbaum million NASAA parties percent persons plaintiffs primary violation private actions private litigation private plaintiffs private rights private securities litigation professionals recovery remedies right of action Rule 11 scienter SEC's secondary liability Section 10(b Securities and Exchange securities class action securities fraud securities markets Senator DODD Senator DOMENICI settle settlement shareholders standard statement statute of limitations Subcommittee suits supra note Supreme Court testimony vexatious litigation wrongdoing
Popularne fragmenty
Strona 76 - To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading...
Strona 229 - In any class action maintained under subdivision (b)(3), the court shall direct to the members of the class the best notice practicable under the circumstances, including individual notice to all members who can be identified through reasonable effort.
Strona 201 - ... shall impose upon the person who made the certification, the party on whose behalf the disclosure, request, response, or objection is made, or both, an appropriate sanction, which may include an order to pay the amount of the reasonable expenses incurred because of the violation, including a reasonable attorney's fee.
Strona 229 - The notice shall advise each member that (A) the court will exclude him from the class if he so requests by a specified date; (B) the judgment, whether favorable or not, will include all members who do not request exclusion; and (C) any member who does not request exclusion may, if he desires, enter an appearance through his counsel.
Strona 70 - In our complex society the accountant's certificate and the lawyer's opinion can be instruments for inflicting pecuniary loss more potent than the chisel or crowbar.
Strona 201 - ... to the best of the signer's knowledge, information, and belief formed after reasonable inquiry it is well grounded in fact and is warranted by existing law or a good faith argument for the extension, modification, or reversal of existing law, and that it is not interposed for any improper purpose, such as to harass or to cause unnecessary delay or needless increase in the cost of litigation.
Strona 59 - Court ruled that: by certifying the public reports that collectively depict a corporation's financial status, the independent auditor assumes a public responsibility transcending any employment relationship with the client. The independent public accountant performing this special function owes ultimate allegiance to the corporation's creditors and stockholders, as well as to the investing public.
Strona 128 - Any person or entity, including a lawyer, accountant, or bank, who employs a manipulative device or makes a material misstatement (or omission) on which a purchaser or seller of securities relies may be liable as a primary violator under 10b-5, assuming all of the requirements for primary liability under Rule 10b-5 are met.
Strona 49 - Every person who, directly or indirectly, controls any person liable under any provision of this title or of any rule or regulation thereunder shall also be liable jointly and severally with and to the same extent as such controlled person to any person to whom such controlled person is liable, unless the controlling person acted in good faith and did not directly or indirectly induce the act or acts constituting the violation or cause of action.
Strona 257 - If liability for negligence exists, a thoughtless slip or blunder, the failure to detect a theft or forgery beneath the cover of deceptive entries, may expose accountants to a liability in an indeterminate amount for an indeterminate time to an indeterminate class.