Securities and Exchange Commission (SEC), Section 11, Publicly-Traded Companies

SEC’s Investor Advisory Committee recommends SEC action on §11 liability after Slack. How likely is it?

Cooley LLP on 3/11/2025

In a meeting last year of the SEC’s Investor Advisory Committee, the Committee heard from a panel regarding the continued viability—or rather, lack thereof—of §11 liability following SCOTUS’s decision in Slack Technologies...more

Will a Recent U.S. Supreme Court Decision Encourage More Companies to Go Public Through a Direct Listing? Implications of Slack...

Fenwick & West LLP on 6/12/2023

On June 1, 2023, the U.S. Supreme Court (the Supreme Court) issued a much-anticipated decision in the case captioned Slack Technologies, LLC, fka Slack Technologies, Inc. (Slack), et al. v. Pirani (the Slack Decision), which...more

Supreme Court Requires Traceability for Securities Act Claims Arising from Direct Listings

Proskauer - Corporate Defense and Disputes on 6/1/2023

The U.S. Supreme Court held that purchasers of shares sold to the public through a direct listing cannot sue under Section 11 of the Securities Act of 1933 unless they can trace their shares to an allegedly defective...more

Why Section 11 Is A Big Deal

Allen Matkins on 9/21/2021

Many law firms will undoubtedly publish alerts on yesterday's decision by the Ninth Circuit Court of Appeals in Pirani v. Slack Techs., 2021 U.S. App. LEXIS 28319. The court held that arose from the New York Stock...more

How to Avoid Running a PIPE into Section 5 Problems: A Recent SEC Comment Letter Example

Bass, Berry & Sims PLC on 2/4/2019

An SEC comment letter exchange recently made public serves as a helpful reminder to consider Section 5 of the Securities Act when structuring a PIPE (private investments in public equity) transaction. In a PIPE, a public...more

Securities and Exchange Commission (SEC) › Section 11 › Publicly-Traded Companies

SEC’s Investor Advisory Committee recommends SEC action on §11 liability after Slack. How likely is it?

Will a Recent U.S. Supreme Court Decision Encourage More Companies to Go Public Through a Direct Listing? Implications of Slack...

Supreme Court Requires Traceability for Securities Act Claims Arising from Direct Listings

Why Section 11 Is A Big Deal

How to Avoid Running a PIPE into Section 5 Problems: A Recent SEC Comment Letter Example

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