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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.
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.
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.
