Bass, Berry & Sims’ W. Brantley Phillips and Shayne R. Clinton offer their expert analysis of scienter under the Exchange Act in a Thomson Reuters News & Insight securities blog post titled, “The 6th Circuit Discusses Scienter under the Exchange Act, Joins Other Circuits for the ‘Good Faith’ Affirmative Defense in Control Person Liability.” Discussing the recent decision by the Sixth Circuit in Frank v. Dana Corp., Mr. Phillips and Mr. Clinton explain how the court now joins other circuits in determining that plaintiffs do not have to plead facts showing bad faith to survive a motion to dismiss for control person liability.
Thomson Reuters’ News & Insight Securities Blog
Bass, Berry & Sims’ W. Brantley Phillips and Shayne R. Clinton offer their expert analysis of scienter under the Exchange Act in a Thomson Reuters News & Insight securities blog post titled, “The 6th Circuit Discusses Scienter under the Exchange Act, Joins Other Circuits for the ‘Good Faith’ Affirmative Defense in Control Person Liability.” Discussing the recent decision by the Sixth Circuit in Frank v. Dana Corp., Mr. Phillips and Mr. Clinton explain how the court now joins other circuits in determining that plaintiffs do not have to plead facts showing bad faith to survive a motion to dismiss for control person liability.