Eli Wald on Outside Counsels Aiding and Abetting Liability under the Federal Securities Statutes, In re Refco, Inc., Sec. Lit., 609 F. Supp.2d 304 (S.D.N.Y. 2009).

In In re Refco, Inc., the District Court for the Southern District of New York held that secondary actors are not liable for aiding and abetting violations of the federal securities statutes. This Emerging Issues Analysis, written by Professor Eli Wald, a legal ethics expert, summarizes the pertinent legal issues decided by the court and provides important insights for practitioners.

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