Lorenzo v. Securities and Exchange Commission

Argument:  December 3, 2018
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Lorenzo:  A false statement by someone who does not retain “ultimate authority” over the statement DOES NOT SUBJECT the person to a fraudulent-scheme claim under Securities Exchange Act Rule 10b-5.

Securities Exchange Commission:  A false statement by someone who does not retain “ultimate authority” over the statement SUBJECTS the person to a fraudulent-scheme claim under Securities Exchange Act Rule 10b-5.

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