Forum

U.S. Supreme Court

Case Status

Docket Number

Term

2022 Term

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Questions Presented

Whether Sections 11 and 12(a)(2) of the Securities Act of 1933 require plaintiffs to plead and prove that they bought shares registered under the registration statement they claim is misleading.

Case Updates

Supreme Court holds that plaintiffs alleging a Section 11 claim under the Securities Act of 1933 must be able to “trace” their securities to the registration statement on which they base their claim

June 01, 2023

Click here to view the opinion.

U.S. Chamber files coalition amicus brief

February 03, 2023

The coalition amicus brief urges the Supreme Court to reverse the Ninth Circuit and hold that plaintiffs alleging a Section 11 claim under the Securities Act of 1933 must be able to “trace” their securities to the registration statement on which they base their claim.

Melissa Arbus Sherry, Andrew B. Clubok, Susan E. Engel, and Brent T. Murphy of Latham & Watkins LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

Cert. petition granted

December 13, 2022

U.S. Chamber urges Supreme Court to grant certiorari and hold that plaintiffs alleging a Section 11 claim under the Securities Act of 1933 must be able to “trace” their securities to the registration statement on which they base their claim

October 03, 2022

Click here to view the amicus brief filed by the U.S. Chamber and the Securities Industry and Financial Markets Association. Melissa Arbus Sherry of Latham & Watkins LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

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