In a 9-0 ruling, the justices threw out a lower court's decision that had let the proposed class action lawsuit filed by shareholder Fiyyaz Pirani proceed under what the Supreme Court concluded was an incorrect reading of a federal investor protection law. A direct listing is an alternative to a traditional initial public offering.
Pirani's lawsuit alleged violations of Sections 11 and 12 of a federal law called the Securities Act of 1933.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Opinion: The Supreme Court was enabling corruption well before the Clarence Thomas scandalJohn Roberts' court has undone campaign finance safeguards and overturned convictions of public officials for years, most recently that of a onetime aide to Andrew Cuomo.
Source: latimes - 🏆 11. / 82 Read more »
Supreme Court rejects lawsuit that sought to hold Reddit responsible for hosting child pornography | CNN PoliticsThe Supreme Court on Tuesday declined to take up a case from a victim of sex trafficking who sought to hold Reddit, an online platform, responsible for hosting images of child pornography on the website.
Source: CNN - 🏆 4. / 95 Read more »
It Took Alito Barely a Month to Violate the Supreme Court’s New Ethics RulesThe justices who commit the most ethics violations are also the least likely to follow voluntary ethics guidelines.
Source: Slate - 🏆 716. / 51 Read more »
COVID-19 pandemic doesn’t trigger property tax break, Colorado Supreme Court rulesThe justices found that the COVID-19 pandemic was not an “act of nature” that would allow property owners to seek re-assessment of their property values outside of the normal two-year property tax assessment cycle,
Source: denverpost - 🏆 13. / 72 Read more »
Supreme Court just shriveled protection for wetlands, leaving many of these valuable ecosystems at risk | OpinionFor the last 45 years the EPA and the Corps have required discharge permits in wetlands “adjacent” to water bodies, even if a dune, levee or other barrier separated the two. The Sackett decision upends that approach.
Source: PennLive - 🏆 463. / 53 Read more »
U.S. Supreme Court declines to hear bid to sue Reddit over child pornThe U.S. Supreme Court on Tuesday declined to hear a bid by child pornography victims to overcome a legal shield for internet companies in a case involving a lawsuit accusing Reddit Inc of violating federal law by failing to rid the discussion website of this illegal content.
Source: Reuters - 🏆 2. / 97 Read more »