Legal Opinion
Ernst & Ernst v. Hochfelder
Supreme Court of the United States
Decided May 19, 1976No. 74-1042PublishedCited by 3,503 opinions
1Opinion of the CourtJustice Powell
The issue in this case is whether an action for civil damages may lie under § 10 (b) of the Securities Exchange Act of 1934 (1934 Act), 48 Stat. 891, 15 U. S. C. *188§ 78j (b), and Securities and Exchange Commission Rule 10b-5, 17 CFR § 240.1Ob-5 (1975), in the absence of an allegation of intent to deceive, manipulate, or defraud on the part of the defendant.
I
Petitioner, Ernst & Ernst, is an accounting firm. From 1946 through 1967 it was retained by First Securities Company of Chicago (First Securities), a small brokerage firm and member of the Midwest Stock Exchange and of the National…
2Cases cited45 opinions
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- Holmberg v. ArmbrechtSupreme Court of the United States · 1946
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3Cited by3,503 opinions
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