The decision appears to create a new rule for determining standing to bring Securities Act claims in the context of direct listings.
The Slack Direct Listing Decision -
On September 20, 2021, the US Court of Appeals...more
9/23/2021
/ Appeals ,
Class Action ,
Direct Listing ,
Initial Public Offering (IPO) ,
Interlocutory Appeals ,
NYSE ,
Prospectus ,
Registration Statement ,
Securities Act of 1933 ,
Securities Litigation ,
Slack ,
Standing ,
Unregistered Securities
A Supreme Court decision could resolve significant inconsistency among trial courts as to the applicability of the PSLRA discovery stay.
Key Points:
..While federal district courts have consistently applied the...more
The decision is a positive development for Delaware corporations seeking to reduce duplicative state court litigation arising from public securities offerings.
On March 18, 2020, the Delaware Supreme Court issued its...more