United States: Supreme Court: Even In A Direct Listing, Section 11 Requires Plaintiffs To Trace Shares To Registration Statement - Jones Day

United States: Supreme Court: Even In A Direct Listing, Section 11 Requires Plaintiffs To Trace Shares To Registration Statement - Jones Day

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A unanimous Supreme Court has confirmed that a claim brought under section 11 of the Securities Act of 1933 ("1933 Act") requires that a plaintiff plead and prove that the shares purchased were issued pursuant to an allegedly false or misleading registration statement.

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