Banker: D.C. Circuit Panel’s Ruling At Odds With High Court’s Janus Ruling

Mealey's (August 31, 2018, 9:11 AM EDT) -- WASHINGTON, D.C. — A panel majority of the District of Columbia Circuit U.S. Court of Appeals erred in finding that an investment banker violated provisions of the federal securities laws by sending two emails to prospective investors because its opinion would allow the Securities and Exchange Commission to “sidestep the standards” the U.S. Supreme Court set for “misstatement claims merely by relabeling them as fraudulent scheme claims” in Janus Capital Group, Inc. v. First Derivative Traders, the investment banker argues in an Aug. 20 petitioner’s merits brief filed in the Supreme Court (Francis V. Lorenzo v. Securities and Exchange Commission, No. 17-1077, 2018 U.S. S. Ct. Briefs LEXIS 3044)....