U.S. Supreme Court To Hear Appeal Of Securities Act Definition Shareholder Suit

Mealey's (December 13, 2022, 11:31 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Dec. 13 granted certiorari for a Ninth Circuit U.S. Court of Appeals ruling that a shareholder may state a claim for violations of Section 11 of the Securities Act of 1933 for shares of a company he purchased without being able to show that he relied on an allegedly misleading registration statement provided in connection with the issuance of the securities....