Difference between revisions of "Ernst and Ernst v. Hochfelder"
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(New page: 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 [[pla...) |
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Revision as of 13:02, September 2, 2007
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.
Justices Harry Blackmun and William Brennan dissented.