In addition to these allegations which would support an SEC enforcement action or a privaterightofaction for rescission, a plaintiff might opt to pursue damages.
Rebuffed by EPA, EJ activists tried to bring disparate impact lawsuits directly against state regulators, but courts ultimately ruled that no privaterightofaction existed in Title VI.
Extension of a privaterightofaction under U.S. law would supersede the policy choices of other sovereign nations by effectively regulating securities transactions in those nations and thereby interfering with the jurisdiction of their regulatory authorities.