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A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws.
The Private Securities Litigation Reform Act of 1995, Pub. L. Tooltip Public Law (United States) 104–67 (text), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability ...
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud in the United States. It was promulgated by the U.S. Securities and Exchange Commission (SEC), pursuant to its authority granted under § 10(b) of the Securities Exchange Act of 1934. [1]
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information.
The emptiness of blue sky was a metaphor for the fraudulent basis of some securities that laws named after it sought to prevent by requiring disclosures to investors. A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud .
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (Pub. L. Tooltip Public Law (United States) 73–291, 48 Stat. 881, enacted June 6, 1934, codified at 15 U.S.C. § 78a et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. [1]
The Securities Act of 1933 regulates the distribution of securities to public investors by creating registration and liability provisions to protect investors. With only a few exemptions, every security offering is required to be registered with the SEC by filing a registration statement that includes issuer history, business competition and material risks, litigation information, previous ...
The theory of efficient markets has been practically applied in the field of Securities Class Action Litigation. Efficient market theory, in conjunction with "fraud-on-the-market theory", has been used in Securities Class Action Litigation to both justify and as mechanism for the calculation of damages. [65] In the Supreme Court Case ...