There can be no private action for damages under Rule 10b-5 in the absence of a charge that the defendant accountant intended to deceive, manipulate, or defraud.

Name: There can be no private action for damages under Rule 10b-5 in the absence of a charge that the defendant accountant intended to deceive, manipulate, or defraud.
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Question

Quizplus · Accepted Answer

Rule 10b-5 requires scienter, meaning the defendant must have had the intent to deceive, manipulate, or defraud for a private action for damages to be viable.

There Can Be No Private Action for Damages Under Rule