Penelope M. Taylor


  • Monday, December 6, 2010
    On August 16, 2010, a unanimous three-judge panel of the United States Court of Appeals for the Third Circuit, in Malack v. BDO Seidman, LLP , No. 09-4475, 2010 US App Lexis 17090 (3d Cir. Aug. 16, 2010) (precedential), rejected the "fraud-created-the-market" theory in securities fraud cases. The Court concluded that "[t]he fraud-created-the-market theory...