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Quotation from Chiarella v. United States by Supreme Court of the United States
“The Court continues to pursue a course, charted in certain recent decisions, designed to transform § 10(b) from an intentionally elastic "catchall" provision to one that catches relatively little of the misbehavior that all too often makes investment in securities a needlessly risky business for the uninitiated investor.”
Chiarella v. United States, Dissent of Justice Blackmun (excerpt) (U.S. Reports text (Legal Information Institute))
Justice Blackmun, joined by Justice Marshall, objects to the Court's narrowing of Section 10(b).
Citation: "The Court continues to pursue a course, charted in certain recent decisions, designed to transform § 10(b) from an intentionally elastic "catchall" provision to one that catches relatively little of the misbehavior that all too often makes investment in securities a needlessly risky business for the uninitiated investor." — Supreme Court of the United States, Chiarella v. United States, Dissent of Justice Blackmun (excerpt) (U.S. Reports text (Legal Information Institute)). (id chiarella-v-united-states-q6)
Portrait: US Supreme Court Justice Lewis Powell - 1976 official portrait, Color negative by Robert S. Oakes, Public domain.
