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U.S. Supreme Court Rules on Liability for Item 303 Omissions in Shareholder Suits

Harvard Corporate Governance

Supreme Court ruled today in Macquarie Infrastructure Corp. In a unanimous opinion by Justice Sotomayor, the Court ruled in favor of Macquarie, reversing the Second Circuit’s decision allowing such claims to survive a motion to dismiss. Giuffra Jr. Littleton , and Morgan L. Summary The U.S. Moab Partners, L.

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Debevoise Discusses Supreme Court Case on Whether a Private Right of Action Exists for Deficient MD&A

Reynolds Holding

Background: Macquarie Infrastructure Corp. MIC appealed, requesting that the Supreme Court clarify that Section 10(b) liability “arises only where a company makes a statement that is untrue or misleading without further disclosure—not when the company allegedly fails to make all disclosures required by SEC rules.” [5]

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Skadden Discusses Securities Class Actions in 2024

Reynolds Holding

30, 2023, for instance, special-purpose acquisition company-related suits had fallen 37% as compared to the same period in 2022. Plaintiffs instead are targeting companies that allegedly have failed to anticipate supply chain disruptions, persistent inflation, rising interest rates and other macroeconomic headwinds. Through Sept.

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Skadden Discusses Increasing Scrutiny of Companies’ ESG Disclosures — Including by ESG Critics

Reynolds Holding

As public interest and scrutiny into environmental, social and governance (ESG) issues continue to rise, companies face an ever-evolving landscape relating to their ESG disclosures. Accordingly, companies should carefully manage how they implement and disclose their ESG initiatives. million settlement payment by the mining company.

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