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Justices limit suits challenging misleading securities registration statements

As expected, Thursday’s decision in Slack Technologies v. Pirani rejected a lower-court ruling that had substantially broadened liability for publicly traded companies under Section 11 of the Securities Act of 1933. That provision imposes liability for false or misleading material in a statement reg ....

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Chief Justice says Supreme Court is working to address ethics questions

Chief Justice says Supreme Court is working to address ethics questions
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Justices to review standing requirements for suits based on misleading securities registration statements

Monday’s arguments in Slack Technologies v. Pirani present a stark contrast between text and policy arguments under the federal securities laws. Although Slack Technologies is pretty simple as securities cases go, a bit of background is useful. In response to the catastrophic stock-market declines ....

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