But federal securities law prohibits RICO claims when simple fraud claims can be brought instead.
When William Cary took over as SEC chairman in March, 1961, federal securities law did not prohibit insider trading.
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In all three cases, however, the majority upheld what it believes is the letter of federal securities law and rejected broader interpretations.
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Since my initial whistleblower experience I have investigated and blown the whistle on lots of investment scams involving firms I was never employed by, generally by contacting state and federal securities regulators and law enforcement on behalf of pension investors.
Shares in Beazer Homes took a particular beating this week, down nearly 10% after the sacking of the company's chief accounting officer amid news of a federal inquiry into possible securities law violations.
Shares in Beazer Homes (nyse: BZH - news - people ) took a particular beating this week, down nearly 10% after the sacking of the company's chief accounting officer amid news of a federal inquiry into possible securities law violations.
Seeking hundreds of millions of dollars in damages, plaintiffs filed a putative class action alleging that Boeing Company, along with its CEO and the head of its commercial aircraft division, committed securities fraud in violation of federal law.
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The Securities Industry Association, the lobbying group for the brokerage industry, is considering whether to argue that the Utah law be struck down or is subject to preemption by federal securities laws.
Because the discussion regarding materiality in a federal securities fraud action are also applicable in the main to fraud claims alleged under the common law, the state blue sky laws, or other anti-fraud federal and state statutes, the discussion of materiality will not treat the latter separately.
If TCS is to prevail under U.S. law, it will have to convince a federal judge there is clear evidence of securities fraud.
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