Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani – Key Points – – Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case that could have broad implications for whether and how plaintiffs can assert Section 11 and 12(a)(2) claims if they purchased securities offered to the public in a direct listing as opposed to a traditional initial public offering (IPO).
Source: Inside the Courts – An Update From Skadden Securities Litigators – May 2023