The U.S. Supreme Court. Photo: Diego M. Radzinschi/ALM Supreme Court Confirms 'Pure Omissions' Cannot Support Securities Fraud Liability
In a significant decision regarding the scope of the federal securities laws' anti-fraud provisions, the U.S. Supreme Court held that "pure omissions" are inactionable under Section 10(b) of the Securities Exchange Act and its enabling rule, SEC Rule 10b-5.
April 24, 2024 at 10:00 AM
9 minute read
In a significant decision regarding the scope of the federal securities laws' anti-fraud provisions, the U.S. Supreme Court in Macquarie Infrastructure v. Moab Partners held that "pure omissions" are inactionable under Section 10(b) of the Securities Exchange Act and its enabling rule, SEC Rule 10b-5. Macquarie Infrastructure v. Moab Partners, No. 22-1165, 601 U. S. ____ (2024).
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