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Quotation from Ernst & Ernst v. Hochfelder by Supreme Court of the United States
“The words "manipulative or deceptive" used in conjunction with "device or contrivance" strongly suggest that § 10(b) was intended to proscribe knowing or intentional misconduct.”
Ernst & Ernst v. Hochfelder, Opinion of the Court (Justice Powell) (U.S. Reports text (Legal Information Institute))
Justice Powell begins his textual argument that Section 10(b) reaches only intentional wrongdoing.
Citation: "The words "manipulative or deceptive" used in conjunction with "device or contrivance" strongly suggest that § 10(b) was intended to proscribe knowing or intentional misconduct." — Supreme Court of the United States, Ernst & Ernst v. Hochfelder, Opinion of the Court (Justice Powell) (U.S. Reports text (Legal Information Institute)). (id ernst-and-ernst-v-hochfelder-q1)
Portrait: US Supreme Court Justice Lewis Powell - 1976 official portrait, Color negative by Robert S. Oakes, Public domain.
