Private Securities Fraud Actions in Florida
FL securities fraud: federal (Rule 10b-5) and state (Chapter 517). Elements: material misrepresentation, scienter, reliance, loss, and causation. FL Act (Section 517.211): rescission + damages. State may be easier (lower scienter). PSLRA: heightened pleading, discovery stay, lead plaintiff, safe harbor for forward-looking statements. Makes federal cases harder; plaintiffs may prefer state court.
Federal and State
- Federal: Rule 10b-5
- State: Chapter 517
- State may have lower standards
FL Remedies
- Section 517.211: rescission + damages
- Section 517.301: fraud prohibition
PSLRA
- Heightened pleading
- Automatic discovery stay
- Safe harbor: forward-looking
Related Terms
- Rule 10b-5 — Securities fraud
Barnes Walker Business Law
Barnes Walker’s attorneys handle securities litigation in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC