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Question
In Stoneridge Investment Partners, LLC, Petitioner v. Scientific-Atlanta, Inc., et al., the Supreme Court found that:A.The 1934 Act specifically provides for a private cause of action under Rule 10(b) that does not extend to third parties that are not directly involved with a securities fraud.
B.The 1934 Act specifically provides for a private cause of action under Rule 10(b) that does extend to third parties that are not directly involved with a securities fraud.
C.The 1934 Act does not specifically provide for a private cause of action under Rule 10(b) but the courts have properly found an implied right for a private cause of action that extends to third parties that are not directly involved with a securities fraud.
D.The 1934 Act does not specifically provide for a private cause of action under Rule 10(b) but the courts have properly found an implied right for a private cause of action that does not extend to third parties that are not directly involved with a securities fraud.
Answer
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