Webinar December 12, 2018

Will The Supreme Court Expand Potential Liability in Lorenzo v. SEC for Those Who Don’t “Make” False Statements?

Event Detail
Susan E. Hurd
December 12, 2018
12:30 PM - 1:30 PM Eastern Standard Time

This webinar will examine the Lorenzo v. Securities and Exchange Commission appeal pending before the U.S. Supreme Court and describe what we learned about how the Court could rule based on oral argument held in the case on December 3, 2018. The Supreme Court is being asked to decide whether a person who is not considered to be the “maker” of a false statement under the Court’s prior decision in Janus Capital Group, Inc. v. First Derivative Traders can, nevertheless, still be liable for that false statement under the “scheme liability” provisions of Rule 10b-5(a) and (c), as the SEC contends.

Recent changes in the Court’s composition and how the Court previously ruled in Stoneridge Investment Partners LLC v. Scientific-Atlanta, Inc. and Motorola, Inc. may provide some indication of how Lorenzo will be decided. The Court’s ruling not only impacts claims brought by the SEC, but also, potentially, claims for private liability under Rule 10b-5. The “maker” requirement in Janus applies with equal force to private claims brought by shareholders against a company or its officers and directors. Join us to learn more about the potential impact the ruling could have on the scope of potential liability under the federal securities laws.

Susan Hurd, Partner, Securities Litigation Group
Mel Gworek, Senior Associate, Securities Litigation Group

The program is provided as a complimentary service to clients and friends of Alston & Bird. CLE credit is provided for Georgia, Texas, California, New York, Pennsylvania, and Missouri. Additional states may be available upon request.

Questions? Contact Abby Forness at abby.forness@alston.com or 404.881.7824.
Meet the Speakers
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Alex Wolfe
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