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Ernst and Ernst v. Hochfelder (view source)
Revision as of 22:27, June 28, 2010
, 22:27, June 28, 2010Reverted edits by Xstar (Talk) to last revision by NathanG
In '''''Ernst & Ernst v. Hochfelder''''', 425 U.S. 185 (1976), the [[U.S. Supreme Court]] held that to establish liability under the [[securities]] laws, § 10(b) and Rule 10b-5, a private [[plaintiff]] must prove that the defendant acted with scienter, "a mental state embracing intent to deceive, manipulate, or defraud." ''Id.'' at 193-194, and n. 12. The Court reversed a judgment based on evidence that lacked this proof.
Justices [[Harry Blackmun]] and [[William Brennan]] dissented.
[[Category:United States Supreme Court Cases]]