The U.S. Supreme Court has agreed to take up a case that will address a recurring issue that has arisen in the securities class action litigation arena – that is, whether or not the alleged failure to make a disclosure required by Item 303 of Reg. S-K is an actionable omission under Section 10(b) and Rule 10b-5.
The Supreme Court agreed to hear another securities case this week. Leidos, Inc. v. Indiana Public Retirement System, No. 16-581. … Leido , a securities class action based on Exchange Act Section 10(b) and Rule 10b-5 thereunder, presents the following question, according to the Petition for a Writ of Certiorari: “Whether the Second Circuit erred in holding – in direct conflict with the decisions of the Third and Ninth Circuits – that Item 303 of SEC Regulation S-K creates a duty to disclose that is actionable under the Section 10(b) . . .” of the Exchange Act.
- Paul Weiss, Supreme Court Nominee Has Taken Skeptical View of Private Securities Fraud Litigation, Agency Deference (Feb. 2017)
On January 31, 2017, President Donald J. Trump announced his nominee for the Supreme Court seat vacated by the death of Justice Antonin Scalia nearly a year ago: Judge Neil Gorsuch of the United States Court of Appeals for the Tenth Circuit. Judge Gorsuch has a limited record in private securities litigation cases during his tenure on the Tenth Circuit, but his writing and litigation activity prior to joining the bench give some insight into his views on key issues affecting securities litigants.
- Dean Erwin Chemerinsky—Supreme Court Preview UCI Media (Oct. 11, 2016)
- SEC Actions, Supreme Court: The Reach of Exchange Act Section 27
Morrison, Matrixx, Janus, Halliburton I, Amgen, Halliburton II, Omnicareと判例評釈をしてきたのですが、次は、どうやらNewmanになりそうです。