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Are Local Governments Liable Under Rule 10b-5? Textualism and Its Limits

Author: Margaret V. Sachs (University of Georgia School of Law.)

  • Are Local Governments Liable Under Rule 10b-5? Textualism and Its Limits

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    Are Local Governments Liable Under Rule 10b-5? Textualism and Its Limits

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Abstract

Whether state and local governments can be sued for damages is a question that cuts across subject-area boundaries. This question, which has long confounded courts in the areas of both antitrust and civil rights law, now has arisen in a new area: section 10(b) of the Securities Exchange Act of 19344 and rule 10b-5.

Keywords: Municipal corporations, Textualism (Legal interpretation)

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Published on
1992-01-01

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