Yoni Bard

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In Lorenzo v. Securities and Exchange Commission, No. 17-1077, the Supreme Court held that an investment banker had committed securities fraud by copying and pasting false statements prepared by his supervisor into emails to prospective investors, even though he was not on the hook for making the statements himself. The decision focuses on Rule 10b-5 of the Securities and Exchange Commission, which contains three subsections. Subsection (b) prohibits “mak[ing] any untrue statement of a material…
Recently, in Lorenzo v. Securities and Exchange Commission, No. 17-1077, the Supreme Court held that an investment banker had committed securities fraud by copying and pasting false statements prepared by his supervisor into emails to prospective investors, even though he was not on the hook for making the statements himself. The decision focuses on Rule 10b-5 of the Securities and Exchange Commission, which contains three subsections. Subsection (b) prohibits “mak[ing] any untrue statement of a…