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Petitioner: Congress Limited Private Right Of Action On Securities Claims

(July 14, 2017, 1:32 PM EDT) -- WASHINGTON, D.C. — Congress precluded judicial expansion of the private right of action on claims for violation of Section 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5, and a decision by a federal appellate court transgresses that limitation, a petitioner in a securities class action argues in a merits brief filed June 21 in the U.S. Supreme Court (Leidos Inc., v. Indiana Public Retirement System, et al., No. 16-581, U.S. Sup., 2017 U.S. S. Ct. Briefs LEXIS 2193)....
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