![]() ![]() IntroductionĪllegations of corporate fraud and misdealing pervade the commercial marketplace. The article concludes by summarizing emerging principles evident from judicial decisions applying this very flexible and potent source of civil liability I. The analysis then examines aiding and abetting liability in the context of particular, frequently-occurring, factual matrices, including banking transactions, directors and officers, state securities actions, and terrorism. ![]() The article then similarly identifies and analyzes the elements of liability for aiding and abetting breach of fiduciary duty, which predominantly concerns professionals, such as accountants and attorneys, that are alleged to have assisted wrongdoing by their principal. This article reviews Central Bank and its limitations, before turning to an analysis of the elements of civil liability for aiding and abetting fraud. However, the doctrine since has flourished in suits arising from prominent commercial fraud cases, such as those concerning Enron Corporation and Parmalat, and even in federal securities cases some courts continue to impose relatively broad liability upon secondary actors. First Interstate Bank of Denver, ended decades of aiding and abetting liability in connection with federal securities actions. Supreme Court, in its 1994 decision in Central Bank of Denver, N.A. ![]()
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