10th Circuit Erred In Extending Scope Of Exchange Act, Amici Say

Mealey's (July 23, 2019, 2:15 PM EDT) -- WASHINGTON, D.C. — U.S. Supreme Court review of an alleged Ponzi scheme operator’s appeal of a federal circuit court’s upholding of a lower court’s grant of a preliminary injunction in a securities lawsuit is warranted because the appellate court erred holding that the Dodd-Frank Wall Street Reform and Consumer Protection Act extended the scope of provisions of the Securities Exchange Act of 1934, a group of securities law scholars argue in a July 22 brief as amicus curiae filed in the Supreme Court (Charles D. Scoville v. Securities and Exchange Commission, No. 18-1566, U.S. Sup.)....