The unanimous opinion requires shareholder plaintiffs to plead and prove that they purchased shares traceable to an allegedly false or misleading registration statement.
On June 1, 2023, the US Supreme Court issued its...more
6/7/2023
/ Class Action ,
Direct Listing ,
Initial Public Offering (IPO) ,
Judicial Interpretation ,
Misleading Statements ,
Registration Statement ,
SCOTUS ,
Section 11 ,
Securities Act of 1933 ,
Shareholder Litigation ,
Slack Technologies Inc v Pirani ,
Split of Authority
Questions about the scope of the SEC’s disgorgement authority remain open, including in administrative proceedings.
Key Points:
..Since the April 2017 decision in Kokesh v. SEC, the statutory authority of the Securities...more
6/24/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)