Section 83 Private Rights of Action

• Library: Administrative Law 2011

The MSA provides a right to recovery as a either a buyer or seller of a security under certain circumstances. A plaintiff must be careful to plead that one of these relationships exists under § 409.5‑509, RSMo Supp. 2010. Reding v. Goldman Sachs & Co., 382 F. Supp. 2d 1112, 1122 (E.D. Mo. 2005). The MSA also affords an action to a person who has received fraudulent investment advice.

A securities fraud action under the MSA has the advantage of not requiring the plaintiff to prove that:

the defendant’s...