Supreme Court Finds Pure Omissions Not Actionable Under SEC Rule

Mealey's ( April 12, 2024, 1:05 PM EDT) -- WASHINGTON, D.C. — A unanimous U.S. Supreme Court held April 12 that a private securities action cannot be brought on the basis of an omission on filings with the Securities and Exchange Commission if the omission does not render other statements misleading, finding that pure omissions are not actionable under SEC Rule 10b-5....