March 27, 2019 / 2:15 PM / 5 months ago

U.S. Supreme Court safeguards investor-protection laws

WASHINGTON, March 27 (Reuters) - The U.S. Supreme Court safeguarded investor-protection laws on Wednesday by refusing to further narrow the scope of who can be held liable for securities fraud, upholding a lower court ruling against a New York investment banker banned from the industry by the Securities and Exchange Commission.

The justices, in a 6-2 ruling, affirmed the lower court’s decision siding with the SEC. That court agreed with the SEC’s findings that Francis Lorenzo was liable in a scheme to defraud investors by sending misleading emails about a financially troubled company even though he did not personally write the fraudulent statements contained in the messages.

Reporting by Andrew Chung; Editing by Will Dunham

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below