Article

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

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

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)

How to Cite: Sachs, M. (1992) “Are Local Governments Liable Under Rule 10b-5? Textualism and Its Limits”, Washington University Law Review. 70(1).