SCOTUS Rejects Arguments Kavanaugh Made As An Appeals Court Judge

WASHINGTON, DC - OCTOBER 08: U.S. Supreme Court Associate Justice Brett Kavanaugh attends his ceremonial swearing in in the East Room of the White House October 08, 2018 in Washington, DC. Kavanaugh was confirmed in ... WASHINGTON, DC - OCTOBER 08: U.S. Supreme Court Associate Justice Brett Kavanaugh attends his ceremonial swearing in in the East Room of the White House October 08, 2018 in Washington, DC. Kavanaugh was confirmed in the Senate 50-48 after a contentious process that included several women accusing Kavanaugh of sexual assault. Kavanaugh has denied the allegations. (Photo by Chip Somodevilla/Getty Images) MORE LESS
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March 27, 2019 10:47 a.m.
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WASHINGTON (AP) — The Supreme Court is rejecting arguments made by Justice Brett Kavanaugh when he was an appeals court judge in a case involving securities fraud.

The court’s 6-2 ruling Wednesday affirms an appeals court decision against investment banker Francis Lorenzo over false and misleading statements Lorenzo sent in emails to potential investors in a company. The emails described the company as having assets of $10 million when Lorenzo knew the real figure was $400,000.

Kavanaugh had dissented from the appellate ruling. He took no part in the high court case.

Justice Stephen Breyer’s majority opinion rejected Lorenzo’s argument that he did not violate Securities and Exchange Commission anti-fraud regulations because he merely sent the emails at the direction of his boss, who supplied the messages’ contents.

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