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US Supreme Court rules against private suits under key securities law
The US Supreme Court ruled 6-3 that private investors cannot sue under the Investment Company Act, shifting enforcement power entirely to the SEC.
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Supreme Court rules 6-3 that Investment Company Act doesn't allow private lawsuits for contract rescission
The Supreme Court ruled 6-3 that the Investment Company Act doesn't create implied private rights to sue, reshaping closed-end fund activist strategies.
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US Supreme Court rules against private suits under key securities law
The US Supreme Court ruled 6-3 that private investors cannot sue under the Investment Company Act, shifting enforcement power entirely to the SEC.