U.S. Supreme Court To Decide Whether Shareholders Can Sue for Alleged Failures to Comply With Item 303's Disclosure Requirements
The U.S. Supreme Court is set to decide whether shareholders can sue for alleged failures to comply with Item 303's disclosure requirements. In 'Macquarie Infrastructure Corp. v. Moab Partners, L.P,' the court will decide whether private plaintiffs can import Item 303's broad, subjective disclosure requirements into a Rule 10b-5 private securities fraud claim. The court's resolution of this issue could have a significant effect on the scope of public companies' potential liability for alleged securities fraud.
October 18, 2023 at 10:00 AM
13 minute read
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