Simpson Thacher Attorneys Author Article on U.S. Supreme Court Ruling on Section 11 of Securities Act
06.30.23
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Litigation Partners Jonathan Youngwood, Stephen Blake, Peter Kazanoff and Craig Waldman authored an article that was published by Thomson Reuters Westlaw titled, “Supreme Court: Section 11 Requires Purchasers of Shares in a Direct Listing To Plead and Prove That They Purchased Traceable Shares.” The article discussed the recent U.S. Supreme Court’s ruling in Slack Technologies LLC v. Pirani, in which the Court issued a unanimous opinion settling a circuit split concerning whether Section 11 of the Securities Act requires a plaintiff who purchased shares through a direct listing to trace his shares to a false or misleading registration statement. The article further examined how the Court arrived at its decision, as well as offered forward looking analysis on the impact of the ruling.
To read the full article, please click here.