Marisa Antonelli

Jul 2, 2024 | jdsupra.com | Marisa Antonelli |Michael Charlson |Bess Greenberg

In a pair of orders issued this month, the U.S. Supreme Court signaled plans to provide further guidance in its upcoming Fall term concerning application of the heightened standard for pleading securities fraud claims mandated by the Private Securities Litigation Reform Act of 1995 (“PSLRA”).

Apr 18, 2024 | jdsupra.com | Marisa Antonelli |Jeffrey Johnston |Tiffany Monroy

On April 12, 2024, the U.S. Supreme Court unanimously held that, in the absence of an otherwise misleading statement, a failure to disclose information required by Item 303 of Regulation S-K (“Item 303”1) does not support a private action under Section 10(b) of the Securities and Exchange Act of 1934 (“Section 10(b)”). The case, Macquarie Infrastructure Corp., et al. v.

Apr 16, 2024 | jdsupra.com | Marisa Antonelli |Michael Charlson |Rebecca Fike

The Securities and Exchange Commission obtained a victory in a closely-watched trial when a jury found Matthew Panuwat liable for insider trading based on a “shadow trading” theory. The jury’s verdict, as well as increased SEC enforcement under this theory, requires a re-examination of trading behavior and policies when one learns material nonpublic information about another company in the course of employment.

Oct 10, 2023 | jdsupra.com | Marisa Antonelli |Haley Griffin |Grant Newton

On September 29, 2023, the U.S. Supreme Court agreed to weigh in on the validity of a familiar allegation in private securities litigation—that a failure to disclose under Item 303 of Regulation S-K (“Item 303”) supports a claim of securities fraud. The case, Macquarie Infrastructure Corp., et al. v. Moab Partners, L.P., et al., No. 22-1165, promises to resolve a circuit split on the issue and provide much needed certainty to litigants and the securities bar.

Aug 7, 2023 | jdsupra.com | Marisa Antonelli |Rebecca Fike |Lara McMahon

On July 31, 2023, Judge Jed Rakoff of the Southern District of New York (“SDNY”) sided with the Securities Exchange Commission in SEC v. Terraform Labs Pte. Ltd. by holding that sales of crypto assets to retail investors on public marketplaces amounted to a sale of “securities” subject to the SEC’s registration requirements.1 In doing so, he is the first judge to disagree with fellow SDNY Judge Analisa Torres’s recent decision in SEC v.