Law360 | Investors Fear Slack’s High Court Case Will ‘Gut’ Protections

Our Securities Litigation Group reviews the Supreme Court’s Slack opinion that upheld decades of case law requiring a narrow reading of Section 11 of the 1933 Act.

This article analyzes the most recent appeal heard by the U.S. Supreme Court involving federal securities laws, Slack Technologies v. Pirani, which deals with the question of whether companies face potential liability under the 1933 Act for shares made available to the public via a direct listing.

Susan Hurd is quoted on how the Ninth Circuit may rule on the Slack Technologies LLC v. Pirani case on remand from the U.S. Supreme Court.

Our Securities Litigation Group analyzes the impact of the Axon and Cochran decisions on the use of administrative law judges (ALJs) and gleans clues about the future of direct listings from the Slack oral argument.