Whether SEC Disclosure Rule Can Form Private Claims Argued Before High Court

Mealey's (January 17, 2024, 9:30 AM EST) -- WASHINGTON, D.C. — The plain language of federal securities laws does not allow for a private claim to be brought under allegations that a company omitted material from a disclosure form required by the Securities and Exchange Commission, an infrastructure company and other petitioners told the U.S. Supreme Court on Jan. 16; an investment company was joined by the U.S. government in arguing that such an omission can form the basis of private claims if it is shown to be material....