Cite as: 508 U. S. 286 (1993)
Opinion of the Court
express in creating the substantive damages liability for which contribution was sought. Recognizing that the applicable statutes did not "implicate 'uniquely federal interests' of the kind that oblige courts to formulate federal common law," Texas Industries, 451 U. S., at 642, we asked whether Congress "expressly or by clear implication" envisioned a contribution right to accompany the substantive damages right created, id., at 638, or, failing that, whether Congress "intended courts to have the power to alter or supplement the remedies enacted," id., at 645. See also Northwest Airlines, supra, at 91 and 97. But these inquiries are not helpful in the present context. The private right of action under Rule 10b-5 was implied by the Judiciary on the theory courts should recognize private remedies to supplement federal statutory duties, not on the theory Congress had given an unequivocal direction to the courts to do so. Blue Chip Stamps v. Manor Drug Stores, 421 U. S. 723, 730, 737 (1975). Thus, it would be futile to ask whether the 1934 Congress also displayed a clear intent to create a contribution right collateral to the remedy. See Franklin v. Gwinnett County Public Schools, 503 U. S. 60, 76 (1992); id., at 71 (Scalia, J., concurring). If Texas Industries and Northwest Airlines are not controlling, petitioners tell us, then the precedents on which those cases were based do control. Those authorities caution against the creation of new causes of action. Universities Research Assn., Inc. v. Coutu, 450 U. S. 754, 770 (1981); Transamerica Mortgage Advisors, Inc. v. Lewis, 444 U. S. 11, 15-16 (1979); Touche Ross & Co. v. Redington, 442 U. S. 560, 575-577 (1979). They teach that the creation of new rights ought to be left to legislatures, not courts. And, petitioners remind us, whether the right of a tortfeasor to seek contribution from those who share, or ought to share, joint liability is recognized by statute, see, e. g., Cal. Civ. Proc. Code Ann. §§ 875-880 (West 1980 and Supp. 1993); Tex. Civ. Prac. & Rem. Code Ann. §§ 32.001 and 32.002 (1986), or
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