Securities and Exchange Commission v. Tambone

Summary

The First Circuit granted rehearing en banc on the Rule 10b-5(b) issues in the SEC's case against James Tambone and Robert Hussey, while denying review of the Section 17(a)(2) issue. The court withdrew its prior opinion, vacated the judgment, and established deadlines for supplemental and amicus briefs before the scheduled en banc hearing.

Holdings

1. Rehearing en banc was granted on the Rule 10b-5(b) issues challenged by the defendants.
2. The petitions for rehearing en banc were denied as to the panel's Section 17(a)(2) ruling.
3. The December 3, 2008 panel opinion was withdrawn and the judgment entered on that date was vacated.

Questions Presented

1. Whether rehearing en banc should be granted on the panel's Rule 10b-5(b) primary-liability issues.
2. Whether rehearing en banc should be granted on the panel's Section 17(a)(2) ruling.
3. What effect granting rehearing en banc would have on the previously issued opinion and judgment.

Disposition

vacated