Securities Litigation

The SEC recently made the unusual move of asking the Eleventh Circuit to publish its previously-unpublished per curiam decision in SEC v. Monterosso, 2014 WL 2922670 (11^th Cir. June 30, 2014). The decision was not merely a win for the Staff, who presumably sought publication due to the Court's unwarranted language purporting to limit the Supreme Court's Janus precedent only to cases explicitly charged solely under Rule 10b-5(b). In Monterosso, the Commission's Enforcement Staff pursued civil prosecution of three individuals who - in their roles as the issuer's COOs and officers of ...