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Join the Securities Litigation and Enforcement Group on LinkedInSupreme Court Agrees to Take Up Question of ’33 Act Standing in Slack Direct Listing Case | The D&O Diary
On December 13, 2022, the U.S. Supreme Court granted the petition of Slack Technologies to have the court take up the question of the plaintiff’s standing to pursue ’33 Act liability claims against the company. The standing question arises because the plaintiff bought his Slack shares in connection with the June 2019 transaction in which […]
Circuit: Picard Lacks Standing to Sue Banks for Aiding Fraud — New York Law Journal
The trustee overseeing recovery efforts on behalf of victims in the Bernard Madoff multi-billion dollar Ponzi scheme does not have standing to sue financial institutions for aiding and abetting the fraud, the U.S. Court of Appeals for the Second Circuit ruled. The circuit rejected the appeal of Securities Investor Protection Act (SIPA) trustee Irving Picard […]
Judge Tosses $20 Billion in Madoff Claims
Court rules trustee lacks standing to bring common-law claims against J.P. Morgan and UBS.
Fifth Circuit Questions Stanford Trustee’s Standing to Pursue Investor’s Withdrawn Principal
Fifth Circuit questions trustee’s standing to pursue people the SEC has not.