Varjabedian ruling challenges long-standing precedent of scienter requirement.
Section 14(e) ruling creates circuit split, increasing odds of Supreme Court review. ...more
The Private Securities Litigation Reform Act of 1995 protects “forward-looking statements”—that is, predictions about the future, at least when they are accompanied by “meaningful cautionary statements” that could cause the...more
9/11/2017
/ Appeals ,
Corporate Counsel ,
FDA Approval ,
Form 8-K ,
Fraudulent Marketing ,
Investors ,
Material Misstatements ,
Medical Devices ,
Misleading Statements ,
PLSRA ,
Safe Harbors ,
Securities Fraud
SEC Rule 10b-5 makes it unlawful to misstate a material fact (or omit to say something if the omission would render misleading what you do say) in connection with the purchase or sale of a security. The Private Securities...more
Deciding this Term’s big securities case, a unanimous Supreme Court held on March 24 that a statement of opinion does not become actionable under the “untrue statement of material fact” clause of section 11 of the Securities...more