Securities,
U.S. Supreme Court
Apr. 6, 2023
Should SCOTUS cut securities fraud defendants some slack?
Without a clear mandate, regulations intended to safeguard the public should not be rolled back.
The Supreme Court of the United States will soon decide Slack Technologies, LLC, fka Slack Technologies, Inc., et al. v. Pirani, No. 22-200. Depending on the outcome, corporations seeking to list their securities on a national exchange may be able to avail themselves of a loophole to avoid shareholder lawsuits under the Securities Act of 1933. Corporations ordinarily must divulge extensive operational and financial information when they choose to go public. Whe...
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