The U.S. Supreme Court building in Washington, D.C. Photo: Diego M. Radzinschi/ALM 'Slack Technologies' and the Future of Section 11
On April 17, the Supreme Court is set to hear argument in Slack Technologies v. Pirani, a case which seemingly deals with a technical issue of standing under Section 11 of the Securities Act of 1933, but which could render that provision largely irrelevant. In his Corporate Securities column, Professor John Coffee discusses both the implications of Slack and the predictable attempts by issuers and underwriters to downsize Section 11 further by manipulating its tracing requirements.
March 15, 2023 at 10:00 AM
12 minute read
On April 17, the Supreme Court is scheduled to hear argument in Slack Technologies, LLC v. Pirani, a case that seemingly deals with a technical issue of standing under Section 11 of the Securities Act of 1933, but which could render that provision largely irrelevant. Along with my Columbia law colleague, Professor Joshua Mitts, I have co-authored an amicus brief in this case that takes a position roughly midway between the two sides.
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