SEC Weighs in on "Primary Violators" of Section 10(b)
Compliance Week has this article summarizing the SEC's decision to file an amicus brief in the Homestore.com securities class action litigation (and quoting yours truly). The SEC's position is that where a third party such as AOL in the Homestore.com case "engages with the corporation in a transaction whose principal purpose and effect is to create a false appearance of revenues, intending to deceive investors in the corporation’s stock, it may be a primary violator." A copy of the SEC's brief is available here.
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