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Disclosure Requirements Rule 10b-5 Financial Services Industry

Mayer Brown

U.S. Supreme Court Distinguishes Half-Truths from Pure Omissions and Holds That Pure Omissions Are Not Actionable Under Rule...

Mayer Brown on

Answering a precise question increasingly raised by securities fraud plaintiffs, the United States Supreme Court held in Macquarie Infrastructure Corp. v. Moab Partners that a failure to disclose information cannot support a...more

Vinson & Elkins LLP

SCOTUS Unanimously Resolves Securities Fraud Circuit Split

Vinson & Elkins LLP on

On April 12, 2024, the U.S. Supreme Court unanimously held that, in the absence of an otherwise misleading statement, a failure to disclose information required by Item 303 of Regulation S-K (“Item 303”) does not support a...more

Amundsen Davis LLC

U.S. Supreme Court: "Pure" Omissions Are Not Actionable Under Rule 10b-5

Amundsen Davis LLC on

On April 12, 2024, the United States Supreme Court issued a unanimous ruling in Macquarie Infrastructure Corp. et al v. Moab Partners, L.P., et al. which held that omissions, by themselves, are not subject to private rights...more

Morrison & Foerster LLP

SCOTUS Limits Certain 10(b) Claims Based on Violations of Item 303

In a unanimous decision issued on Friday, the U.S. Supreme Court held that a corporation’s failure to disclose information regarding known trends or uncertainties, required by SEC regulation, cannot be the basis for private...more

Epstein Becker & Green

Supreme Court Underscores Limited Applicability of Rule 10b-5(b) Omissions Claims

Epstein Becker & Green on

In Macquarie Infrastructure Corp. v. Moab Partners, L.P., No. 22-1165, 601 U.S. ___ (April 12, 2024), the United States Supreme Court held that “pure omissions are not actionable” for securities fraud asserted specifically...more

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