LexisNexis® Legal Newsroom
Janus Capital Group, Inc. v. First Derivative Traders, 2011 U.S. LEXIS 4380 (June 13, 2011)

LexisNexis Overview: There was no allegation that an investment advisor filed prospectuses and falsely attributed them to a mutual fund, nor did the prospectuses indicate that they came from the advisor instead of the fund; thus, the advisor did not "make" allegedly misleading statements...

Janus Capital Group, Inc. v. First Derivative Traders, 2011 U.S. LEXIS 4380 (June 13, 2011)

LexisNexis Overview: There was no allegation that an investment advisor filed prospectuses and falsely attributed them to a mutual fund, nor did the prospectuses indicate that they came from the advisor instead of the fund; thus, the advisor did not "make" allegedly misleading statements, and...

Duane Morris Alert: Supreme Court Holds Mutual Fund Investment Adviser Not Liable for Misleading Statements in Fund's Prospectus

On June 13, 2011, in Janus Capital Group, Inc. v. First Derivative Traders , 1 the U.S. Supreme Court held that a mutual fund investment adviser and administrator could not be held liable under federal securities laws for alleged misrepresentations in the prospectuses issued by the mutual fund itself...

Supreme Court's Janus Decision: No Secondary Liability, But Many Secondary Questions

by Arthur C. Delibert and Gregory S. Wright Excerpt: The U.S. Supreme Court's recent decision in Janus Capital Group, Inc. v. First Derivative Traders has left many investment company directors wondering whether they should take additional measures either to protect their funds and themselves...

SEC Imposes $850,000 Civil Penalty on Revlon for Misleading Disclosures in Going-Private Transaction

The SEC has just imposed an $850,000 civil penalty on Revlon for misleading disclosures in the run up to its going-private transaction that were the subject of litigation (2009-2010) before the Chancery Court. Vice Chancellor Laster's opinion in In re Revlon S'holder Litig [ an enhanced version...

Florida: Truck Driver Disqualified From Comp Benefits for Misleading Physicians

A Florida appellate court affirmed a decision by a state judge of compensation claims that barred a long-haul truck driver from receiving workers’ compensation benefits for an alleged work-related injury based on findings that the driver had given false and misleading statements to, among other...