The U.S. Supreme Court’s Jarkesy decision dealt a blow to the Securities and Exchange Commission’s (SEC) in-house adjudication system. Our team analyzes the decision and its potential impact on other federal agencies....more
The U.S. Supreme Court has agreed to hear appeals of the Ninth Circuit’s decisions in the Facebook and NVIDIA putative securities class action cases. Our Securities Litigation Group breaks down the potentially far-ranging...more
6/27/2024
/ Appeals ,
Certiorari ,
Class Action ,
Disclosure Requirements ,
Facebook ,
Form 10-K ,
NVIDIA ,
Publicly-Traded Companies ,
Risk Factors ,
SCOTUS ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation
Our Securities Litigation Group analyzes the Supreme Court’s Jarkesy case, which involves challenges to the constitutionality of SEC enforcement actions....more
Our Securities Litigation Group reviews the Supreme Court’s Slack opinion that upheld decades of case law requiring a narrow reading of Section 11 of the 1933 Act. The case addressed the scope of liability for claims brought...more
Our Securities Litigation Group analyzes the impact of the Axon and Cochran decisions on the use of administrative law judges (ALJs) and gleans clues about the future of direct listings from the Slack oral argument....more
Alston & Bird’s Securities Litigation Group analyzes the issues facing the U.S. Supreme Court in an appeal that will determine whether companies face potential liability under the 1933 Act for shares made available to the...more
Our Securities Litigation Group examines this week’s U.S. Supreme Court decision to vacate a shareholder class action against Goldman Sachs and send it back to a lower court for a closer look at whether alleged misstatements...more
6/24/2021
/ Arkansas Teacher Retirement System v Goldman Sachs Group ,
Basic v Levinson ,
Burden of Persuasion ,
Burden of Proof ,
Certiorari ,
Class Action ,
Class Certification ,
Conflicts of Interest ,
Goldman Sachs ,
Investors ,
Presumption of Reliance ,
SCOTUS ,
Securities Exchange Act ,
Securities Litigation ,
Shareholders
Our Securities Litigation Group examines the path of a securities case coming before the Supreme Court that could change the dynamics of evidence of price impact at the class certification stage....more
12/23/2020
/ Arkansas Teacher Retirement System v Goldman Sachs Group ,
Basic v Levinson ,
Burden of Persuasion ,
Certiorari ,
Class Action ,
Class Certification ,
Conflicts of Interest ,
Goldman Sachs ,
Investors ,
Presumption of Reliance ,
SCOTUS ,
Securities Exchange Act ,
Securities Litigation ,
Shareholders
Our Securities Litigation Group examines the Supreme Court’s decision to limit – rather than eliminate – the SEC’s ability to seek disgorgement in federal court....more
6/25/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
In what has come to be known as the “Copy-Paste Fraud,” the Supreme Court held on March 27, 2019 that an individual who knowingly disseminates false and misleading information to prospective investors with the intent to...more
3/29/2019
/ Appeals ,
Enforcement Actions ,
False Statements ,
Fines ,
Intent to Defraud ,
Investment Banks ,
Lorenzo v SEC ,
Material Dissemination ,
Misleading Statements ,
Reaffirmation ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Suspensions
On March 27, 2017, the U.S. Supreme Court granted a petition for writ of certiorari in Leidos v. Indiana Public Retirement System, et al., No. 16-581, and agreed to review the Second Circuit’s decision that Item 303 of SEC...more
On May 16, 2016, the Supreme Court issued its opinion in Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Manning, in which the Court resolved a Circuit split concerning the jurisdictional provision of the Securities Exchange...more