Civil Liability: Missouri Securities Violations

In securities fraud cases, there is always going to be a victim who suffers from the wrongdoer’s illegal securities transactions. Under Missouri law, that victim generally has a private cause of action. Pursuant to RSMo 409.5-509(b)(1), the victim (i.e., now a plaintiff ) may seek a remedy at law for money damages to cover compensatory damages, attorneys fees, and possibly punitive damages depending on the severity of the transgression; equitably relief is also possible if the plaintiff(s) wants to rescind the transaction (i.e., make it as as if it had never occurred). The statute of limitations period in which to bring the suit is in some cases one year after the violation occurred and in other case two years after the discovery of the violation, whichever is earlier.

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