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, 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...

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...