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...
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
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...