High Court Asked To Decide If Item 303 Failed Disclosure Supports Private Claim

Mealey's (June 13, 2023, 7:04 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court should decide whether the Second Circuit U.S. Court of Appeals erred when it held that a failure to make a disclosure under Item 303 of Securities and Exchange Commission Regulation S-K can support a private claim under Section 10(b) of the Securities Exchange Act, a publicly traded company that owned and operated a portfolio of infrastructure-related businesses, a subsidiary and various officers and directors argue in their petition for a writ of certiorari....