Month: June 2023

SCOTUS decides Slack—in direct listings, tracing required for § 11 standing

On Thursday, June 1, SCOTUS decided Slack Technologies v. Pirani in a unanimous opinion by Justice Gorsuch holding that, even in a registration by direct listing, §11(a) liability extends only to shares that are traceable to an allegedly defective registration statement. As you know, §11 provides statutory standing to sue […]