Tag: Standing

Supreme 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 Slack went public through a…

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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 from the dismissal of four…

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