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The US Supreme Court ruled that shareholders cannot sue companies for fraud if they fail to disclose trends affecting their financial performance, unless the omission misleads. This decision limits shareholder suits based on pure omissions in corporate disclosures under federal fraud law.
The U.S. Supreme Court Resolves Circuit Split, Holds That Pure Omissions Are Not Actionable in Securities Fraud Cases https://t.co/G1yNKXEMPM
Supreme Court Narrows the Reach of Omission Liability Claims Under Section 10(b) of the Exchange Act https://t.co/YnU4QogZj7 #fraud #securitiesexchange #liability @MarciaCoyle https://t.co/ayr8YMPUpH
Supreme Court Underscores Limited Applicability of Rule 10b-5(b) Omissions Claims https://t.co/5C4oRIObH5 #Litigation #Securities #Rule @adamliptak https://t.co/vs5c19prOu
