Law360, New York ( January 16, 2014, 12:48 AM EST) -- In SEC v. EagleEye Asset Management LLC, Civil Action No. 11-11576-WGY (D. Mass., Oct. 4, 2013), a U.S. federal district court judge proclaimed that, in his courtroom at least, a lay jury would be encouraged to decide not only what facts were "material" requiring disclosure by an investment adviser to her client, but also what conduct fell below an investment adviser's standard of care. Surprisingly, the court also decided, as a matter of law, that a lay jury was quite able to reach these decisions without the benefit of any expert testimony to guide it. If investment advisers did not already believe that they had bull's eyes pinned to their backs, then this decision should now convince them....
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