Article
Fifth Circuit U.S. Court Of Appeals Holds No Private Cause Of Action For Monetary Damages Under Section 13(D) Of The Securities Exchange Act Of 1934
On May 27, 2008, the U.S. Court of Appeals for the Fifth Circuit affirmed a decision by the U.S. District Court for the Northern District of Texas, in “Motient Corp. v. Dondero et al.”, holding that there is no private cause of action for monetary damages under Section 13(d) of the Securities Exchange Act of 1934 (Exchange Act).
Blank Rome LLP
