Journal of Securities and Futures Law, Vol. 1, No. 2, p. 3, Summer 2008
19 Pages Posted: 23 Sep 2008
Date Written: September, 22 2008
In early cases, the federal courts held that securities fraud was not limited to common law fraud when a broader reading was deemed necessary to protect investors. But now the courts are holding that securities fraud is narrower than common law fraud, and that it is not the role of the courts to imply private rights of action. The author gives an overview of the cases, beginning in the 1940's, and concludes that, with a few exceptions, on balance the investor has been the loser.
Keywords: securities fraud,common law,implied right,private right
Suggested Citation: Suggested Citation
Poser, Norman S., Securities Fraud and the Common Law (September, 22 2008). Journal of Securities and Futures Law, Vol. 1, No. 2, p. 3, Summer 2008; Brooklyn Law School, Legal Studies Paper No. 118. Available at SSRN: https://ssrn.com/abstract=1271912