(January 20, 2017, 11:50 AM EST) -- WASHINGTON, D.C. — The Second Circuit U.S. Court of Appeals erred in determining that Item 303 of Securities and Exchange Commission Regulation S-K creates a “duty” to disclose that is actionable under SEC Rule 10b-5, the Securities Industry and Financial Markets Association (SIFMA) and the U.S. Chamber of Commerce argue in a recent amicus curiae brief filed in the U.S. Supreme Court in support of a defense company defendant in a securities class action lawsuit (Leidos Inc., v. Indiana Public Retirement System, et al., No. 16-581, U.S. Sup.; 2016 U.S. S. Ct. Briefs LEXIS 4389)....