Abstract: On June 28, 2011, in Reese v. BP Explorations (Alaska) Inc., the U.S. Court of Appeals for the Ninth Circuit held that plaintiffs could not bring certain securities fraud claims relating to a burst in an Alaskan oil pipeline, because the plaintiffs failed to show that the defendant had the “ultimate authority” for the allegedly fraudulent SEC filings. In so doing, the court continued a recent trend in securities fraud cases of making it more difficult for plaintiffs to bring claims. This Comment argues that although the Ninth Circuit’s ruling was consistent with Supreme Court precedent, it may allow otherwise liable parties to escape liability, and the decision expands the growing trend of reducing the scope of private actions under SEC Rule 10b-5.
BCLR Moves to # 25 in Law Journal Rankings
The Boston College Law Review has moved from #26 to #25 in the annual Washington and Lee University School of Law Law […]
Alumni-Student Happy Hour, February 19
Dear BCLR Alumni, I am pleased to announce that the Boston College Law Review will be hosting its Alumni-Student Happy […]
2014 E. Supp. Now Available
We have begun posting case comments from recent federal appellate decisions to our 2014 E. Supp., which can be found […]