Legal Opinion
Plaut v. Spendthrift Farm, Inc.
Supreme Court of the United States
Decided April 18, 1995No. 93-1121PublishedCited by 961 opinions
1Opinion of the CourtJustice Scalia
The question presented in this case is whether § 27A(b) of the Securities Exchange Act of 1934, to the extent that it requires federal courts to reopen final judgments in private civil actions under § 10(b) of the Act, contravenes the Constitution’s separation of powers or the Due Process Clause of the Fifth Amendment.
I
In 1987, petitioners brought a civil action against respondents in the United States District Court for the Eastern District of Kentucky. The complaint alleged that in 1983 and 1984 respondents had committed fraud and deceit in the sale of stock in violation of § 10(b) of the…
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