United States rule 10b 5scheme liabilitysecurities fraud

Lorenzo v SEC

587 US 71 (2019)

JurisdictionUnited States

CourtSupreme Court of the United States

Year2019

StatusBinding authority

Key Principle

A person who disseminates false statements to investors with intent to defraud can be held liable under Rule 10b-5(a) and (c) even if they did not 'make' the statement under Janus; dissemination itself is a manipulative or deceptive act.

Area of Law

corporate

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