Ernst & Ernst v. Hochfelder
GPTKB entity
Statements (59)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:legal_case
|
| gptkbp:bfsLayer |
5
|
| gptkbp:bfsParent |
gptkb:Rule_10b-5
|
| gptkbp:case_types |
No. 74-1130
|
| gptkbp:court |
gptkb:legal_case
|
| gptkbp:decided_by |
gptkb:1976
|
| gptkbp:doctrine |
negligence standard
recklessness standard intentional misconduct standard |
| gptkbp:historical_debate |
gptkb:1975
|
| gptkbp:historical_significance |
important in corporate governance
important in financial regulation important in investor protection |
| https://www.w3.org/2000/01/rdf-schema#label |
Ernst & Ernst v. Hochfelder
|
| gptkbp:impact |
influenced future securities litigation
|
| gptkbp:is_cited_in |
gptkb:425_U._S._185
|
| gptkbp:judges |
gptkb:Justice_Potter_Stewart
gptkb:Justice_Byron_White gptkb:Justice_Thurgood_Marshall gptkb:Justice_William_J._Brennan_Jr. gptkb:Justice_Lewis_F._Powell_Jr. gptkb:Justice_William_H._Rehnquist gptkb:Justice_Sandra_Day_O'_Connor gptkb:Justice_Harry_Blackmun |
| gptkbp:legal_issue |
securities fraud
scienter requirement |
| gptkbp:legal_representation |
gptkb:Ernst_&_Ernst
Hochfelder |
| gptkbp:legislation |
gptkb:Sarbanes-Oxley_Act
gptkb:Dodd-Frank_Act gptkb:Securities_Act_of_1933 |
| gptkbp:notable_event |
gptkb:Securities_Exchange_Act_of_1934
gptkb:Basic_Inc._v._Levinson gptkb:Matrixx_Initiatives,_Inc._v._Siracusano gptkb:TSC_Industries,_Inc._v._Northway,_Inc. |
| gptkbp:outcome |
influenced regulatory practices
enhanced investor confidence led to the establishment of best practices in auditing. affected corporate accountability affected the enforcement of securities laws clarified auditor responsibilities court ruled on the standard of liability defined investor expectations encouraged transparency in financial reporting fostered trust in capital markets impacted financial disclosures impacted the certification of financial statements influenced the development of compliance programs influenced the role of auditors influenced the training of auditors led to increased scrutiny of financial statements led to the development of auditing standards promoted ethical standards in auditing shaped the duties of corporate officers shaped the expectations of stakeholders shaped the landscape of securities law affected the relationship between auditors and clients |
| gptkbp:precedent |
established standards for auditor liability
|
| gptkbp:significance |
established precedent for scienter in securities fraud cases
|