On September 20, 2021, in the 1st situation by a U.S. Courtroom of Appeals to have deemed the difficulty, the Ninth Circuit U.S. Court docket of Appeals held that a shareholder plaintiff experienced statutory standing to go after claims underneath Sections 11 and 12(a)(2) of the Securities Act of 1933 stemming from a immediate listing even however he could not confirm that he purchased shares that ended up topic to the issuer’s registration assertion and featuring prospectus. See Pirani v. Slack Techs., Inc., No. 20-16419, 2021 WL…
By: Skadden, Arps, Slate, Meagher & Flom LLP