Arizona Securities Law: Civil Liability, Defenses, and Remedies, 6th Ed. 2021 (Print)

• Expanded coverage

• Over 100 new pages covering new topics & developments

• Handy appendix of statutes

• 501 pages, perfect bound, 7 x 10

About the Book

The new sixth edition provides a comprehensive analysis of civil liability, defenses, and remedies under Arizona’s securities laws.  Coverage extends not only to the Arizona Securities Act but to securities claims under the Consumer Fraud Act, the Investment Management Act, and common-law theories of intentional, negligent, and fiduciary fraud.  A notable addition to this edition is an entirely new chapter that provides a comprehensive discussion of liability, defenses and remedies regarding securities-registration violations. The book explains the law in each area, as well as parallel developments under the federal securities laws, which are analyzed with particular attention to differences in Arizona and federal law.

Handy Appendix

Securities law is largely statutory law.  Attorneys should always pay close attention to the statutory text.  A handy Appendix reproduces the key civil-liability statutes under Arizona’s Securities Act, Consumer Fraud Act, and Investment Management Act, together with the key federal-securities statutes.

New Developments

Since the fifth edition, new decisions by the Court of Appeals, reported and unreported, were issued on a variety of issues   A notable addition to this edition is an entirely new chapter (Chapter 4) that provides a comprehensive discussion of liability, defenses, and remedies regarding securities-registration violations.

Topics Included

• What is a security

• The history of Arizona’s securities statutes from 1909 to date

• The nine elements of liability under A.R.S. § 44-1991(A) 

• Pleading scienter, prohibited conduct, loss causation, participation, and inducement

• The effect of heightened pleading on the statute of limitations

• Control liability and statutory participation-and-inducement liability

• Aiding and abetting after Sell v. Gama

• Differences in claims under Rule 10b-5 and A.R.S. § 44-1991(A) Facts and conduct  found  misleading  in actions by the Arizona Securities Division

• Securities liability under the Consumer Fraud Act and the Investment Management Act

• Securities-registrations violations

• Securities claims based on common-law misrepresentation, nondisclosure, and fiduciary fraud

• Statutory and nonstatutory defenses to securities-fraud claims

• Statutory and common-law damage and rescission measures