Breaking News :

Janus Capital Group, Inc. v. First Derivative Traders

Docket No. Op. Below Argument Opinion Vote Author Term
09-525 4th Cir. Dec 7, 2010
Tr.Aud.
Jun 13, 2011 5-4 Thomas OT 2010

Holding: Because the petitioner, a mutual fund investment adviser, did not make the false statements included in the mutual fund prospectuses of its clients, it cannot be held liable in a private action under SEC Rule 10b5, which prohibits mak[ing] any untrue statement of fact in connection with the purchase or sale of securities, for its role in preparing those prospectuses.

Plain English Holding: Investment advisors to a mutual fund cannot be sued under federal securities law for false statements made by the fund they advised.

Judgment: Reversed, 5-4, in an opinion by Justice Clarence Thomas on June 13, 2011. Justice Breyer filed a dissenting opinion, which Justices Ginsburg, Sotomayor, and Kagan joined.

SCOTUSblog Coverage

Briefs and Documents

Merits Briefs

Amicus Briefs

Certiorari-Stage Documents

 
Share:
  • Featured Posts

  • Merits Case Pages and Archives

Term Snapshot
  • Videos see all

    Capture

    On Monday afternoon Justices Anthony Kennedy and Stephen Breyer testified before the House Appropriations Committee. The purpose of the hearing was to discuss the Court’s budget for the next fiscal year and the federal judiciary, but the legislators also took full advantage of the occasion to touch on other topics as well.

Awards
  • Peabody Award

    Peabody Award

    Awarded the Peabody Award for excellence in electronic media.

  • Sigma Delta Chi

    Sigma Delta Chi

    Awarded the Sigma Delta Chi deadline reporting award for online coverage of the Affordable Care Act decision.

  • National Press Club Award

    National Press Club Award

    Awarded the National Press Club's Breaking News Award for coverage of the Affordable Care Act decision.

  • Silver Gavel Award

    Silver Gavel Award

    Awarded the Silver Gavel Award by the American Bar Association for fostering the American public’s understanding of the law and the legal system.

  • American Gavel Award

    American Gavel Award

    Awarded the American Gavel Award for Distinguished Reporting About the Judiciary to recognize the highest standards of reporting about courts and the justice system.

  • Webby Award

    Webby Award

    Awarded the Webby Award for excellence on the internet.

  • Email Digest Sign-Up


  • Subscriptions



    RSS


    Twitter: Blog Staff Tweets


    Twitter: Each Blog Post, Tweeted