It’s not Reliance; It’s Proximate Cause - Use of Proximate Cause to Contain Liability for Claims based upon RICO
The Racketeer Influenced and Corrupt Organizations Act (“RICO”), 18 U.S.C. §§1960 – 1968, was originally signed into law by Richard Nixon in 1970 as a measure for dealing with organized crime. Over the past few decades, to the delight of plaintiffs and the dismay of defendants, RICO has been expanded and applied to other situations. As Justice White, writing for the majority of the Supreme Court, has said, “RICO is to be read broadly.” Sedima, S.P.R.L. v. Imrex Co., Inc., 473 U.S. 479, 497, 105 S.Ct. 3275, 3285, 87 L.Ed.2d. 346 (1985). A complete article discussing this is available.
To read the complete paper, click here.