Context

Context of Abandonment of the private right of action for aiding and abetting securities fraud/staff report on private securities litigation : hearing before the Subcommittee on Securities of the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Third Congress, second session on recent securities law decisions by the U.S. Supreme Court, Central Bank of Denver vs. First Interstate Bank of Denver. In a 5-4 decision, the court wiped out private liability for those who "aid and abet" securities fraud : staff report on private securities litigation, May 12, 1994
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