Spotlight – Macquarie Ruling Raises the Bar for Securities Fraud Claims – Key Points – – On April 12, 2024, the U.S. Supreme Court unanimously reversed and vacated the Second Circuit’s decision in Macquarie Infrastructure Corp. v. Moab Partners LP. – The issue presented was whether the failure to make a disclosure pursuant to Item 303 of the SEC’s Regulation S-K can serve as the basis for a securities fraud claim under Section 10(b) of the Exchange Act, “even in the absence of an otherwise-misleading statement.” Originally published on Law360 – April 17, 2024.
Source: Inside the Courts – An Update From Skadden Securities Litigators – May 2024