‘Ernst & Ernst v. Hochfelder’: A Critique and an Evaluation of Its Impact Upon the Scheme of the Federal Securities Laws

Authors

James D. Cox, Duke Law SchoolFollow

Document Type

Article

Publication Date

1977

Abstract

Ernst & Ernst v. Hochfelder presented to the Supreme Court the most perplexing issue yet to arise from the implied right of action under section 10(b) of the Securities Exchange Act of 1934 and Rule l0b-5: whether the standard of culpability imposed by those provisions includes a duty to exercise reasonable care.

Citation

James D. Cox, ‘Ernst & Ernst v. Hochfelder’: A Critique and an Evaluation of Its Impact Upon the Scheme of the Federal Securities Laws, 28 Hastings Law Journal 569-630 (1977)