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Surf Air Mobility shares slump 75% in NYSE debut

Electric aviation and regional air travel company Surf Air Mobility shares slumped 75 per cent below their reference price in a direct listing on Thursday. Shares debuted on the New York Stock Exchange at US$5 per share below its reference price of US$20. Unlike an initial public offering, in a d
York Stock Exchange New York Stock Exchange Surf Air Mobility Air Mobility Coinbase Global Slack Technologies

Supreme Court Delivers Key Defense Victory by Limiting Section 11 Claims in Direct Listings - and Again Calling for a Rigid Application of the Tracing Requirement | Goodwin

On June 1, 2023, the United States Supreme Court issued a unanimous opinion that makes it more difficult for shareholders to bring Section 11 claims against companies that go public via...
New York United States New Jersey Rafael Marquez James David Obrien Denise Cote

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Greater Obstacles for Section 11 Plaintiffs Given Recent US Supreme Court Ruling on 'Slack Technologies v. Pirani' | Katten Muchin Rosenman LLP

On June 1, 2023, the US Supreme Court held in a unanimous decision in Slack Technologies LLC v. Pirani that Section 11 of the Securities Act of 1933 (Securities Act) โ€œrequires a...
Fiyyaz Pirani Supreme Court Limits Section Supreme Court Securities Exchange Slack Technologies Exchange Commission

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