Category Archives: Securities Litigation

Liability for False Statements of Opinion Under Section 11 of the 1933 Securities Act




In Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, No. 13-435 (March 24, 2015), the Supreme Court resolved the proper standard by which to determine whether a false statement of opinion is actionable under Section 11 of the … Continue reading




Posted in Business Litigation, Securities Litigation, Supreme Court | Tagged , , , , , , | Comments Off on Liability for False Statements of Opinion Under Section 11 of the 1933 Securities Act

Curbing Agency Power: Is Deference Owed to Agency Interpretations of Criminal Statutes?




Buried at the end of 24 pages of Supreme Court Orders on November 10, 2014 is an intriguing three-page Statement by Justice Scalia, joined by Justice Thomas, respecting the denial of certiorari in Whitman v. United States, No. 14-29. Whitman involved a criminal … Continue reading




Posted in Criminal Law, Securities Litigation, Supreme Court | Tagged , , , | Comments Off on Curbing Agency Power: Is Deference Owed to Agency Interpretations of Criminal Statutes?

Supreme Court Rules that Securities Litigation Uniform Standards Act Does Not Foreclose State Fraud Actions Not Based on a Covered Security




In Chadbourne & Parke LLP v. Troice, Nos. 12-79 et al. (February 26, 2014), the Supreme Court held, by a seven-to-two margin, that the Securities Litigation Uniform Standards Act (“SLUSA”) did not bar a state law fraud action in which … Continue reading




Posted in Securities Litigation, Supreme Court | Tagged , , , , | Comments Off on Supreme Court Rules that Securities Litigation Uniform Standards Act Does Not Foreclose State Fraud Actions Not Based on a Covered Security

Is the Basic Inc. v. Levinson Presumption of Reliance in Trouble?




In today’s decision in Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, the Supreme Court held, by a 6 to 3 margin, that securities class plaintiffs need not first demonstrate materiality in order to obtain certification of their claims. While this … Continue reading




Posted in Securities Litigation | Tagged , , , , , , , | Comments Off on Is the Basic Inc. v. Levinson Presumption of Reliance in Trouble?