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Supreme Court's Slack Ruling Could Curb 'Direct Listings' IPO Alternative Image

Supreme Court's Slack Ruling Could Curb 'Direct Listings' IPO Alternative

Jimmy Hoover

Messaging company Slack Technologies scored a unanimous victory in the U.S. Supreme Court last month, which held that an investor suing over a company stock offering must show he held "registered" securities in the company.

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The First Amendment and the Lanham Act At the Supreme Court

Conor Tucker

In March, the Supreme Court heard a blockbuster trademark case with significant implications for trademark law. After argument, reversal seems likely as questioning from the justices suggests that a long-standing precedent is unlikely to survive unscathed. But the Court also indicated concern over the broader implications of this case in the arts, entertainment, and publishing. Here's what you need to know about Jack Daniel's v. VIP Products.

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Acquitted-Conduct Sentencing: A Quagmire Neither the Supreme Court Nor the U.S. Sentencing Commission Can Continue to Avoid Image

Acquitted-Conduct Sentencing: A Quagmire Neither the Supreme Court Nor the U.S. Sentencing Commission Can Continue to Avoid

Harry Sandick & Nicole Scully

It has been common knowledge to criminal practitioners for years that a criminal defendant's sentence for a crime which they have been convicted can be increased based on consideration of conduct that the jury acquitted. This outcome can make a partial acquittal in federal court into a pyrrhic victory.

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Rule 10b-5 Liability: The Second Circuit and 'Lorenzo' Image

Rule 10b-5 Liability: The Second Circuit and 'Lorenzo'

Anthony Michael Sabino

Part Two of a Three-Part Article This three-part series discusses the Second Circuit's recent Securities law landmark case, S.E.C. v. Rio Tinto. However, in order to discuss Rio Tinto, it is important to first understand the Supreme Court landmark cases upon which Rio Tinto is based: Janus Capital Group, Inc. v. First Derivative Trader, discussed in the first installment, and S.E.C v. Lorenzo, discussed here.

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Innocent Business Partner's Fraud Liability Survives Bankruptcy Image

Innocent Business Partner's Fraud Liability Survives Bankruptcy

Michael L. Cook

The decision by the Supreme Court has practical significance for corporate officers and others in an agency or partnership relationship, and also may have serious consequences for corporate Chapter 11 debtors whenever a "domestic governmental unit" is a creditor.

Features

Rule 10b-5 Liability: The Supreme Court and 'Janus' Image

Rule 10b-5 Liability: The Supreme Court and 'Janus'

Anthony Michael Sabino

Part One of a Three-Part Article This three-part series discusses the Second Circuit's recent Securities law landmark case, S.E.C. v. Rio Tinto. However, in order to discuss Rio Tinto, it is important to first understand the Supreme Court landmark cases upon which Rio Tinto is based: Janus Capital Group, Inc. v. First Derivative Trader and S.E.C v. Lorenzo. Janus is discussed here in the first installment.

Features

Circuit Split Reflects Disagreement About the Relationship Between Scheme Liability and SEC Rule 10b-5(b) Image

Circuit Split Reflects Disagreement About the Relationship Between Scheme Liability and SEC Rule 10b-5(b)

Stefan Atkinson & Yi Yuan

Historically, federal courts generally agreed that scheme liability under SEC Rule 10b-5(a) and (c) requires something more than a misstatement or omission — with misstatements and omissions typically being litigated under Rule 10b-5(b) instead. However, the SCOTUS in Lorenzo v. SEC held that an individual who disseminates a misstatement, without other fraudulent conduct, is potentially liable under the scheme liability provisions of Rule 10b-5. Subsequently, a circuit split has emerged over the scope of Lorenzo's holding.

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Report on Oral Arguments At Supreme Court In 'Warhol' Case Image

Report on Oral Arguments At Supreme Court In 'Warhol' Case

Scott Graham

During the recent oral arguments before it, the U.S. Supreme Court sounded open to extending more fair use protection to an Andy Warhol painting of rock icon Prince than the U.S. Court of Appeals for the Second Circuit did.

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Supreme Court Set to Hear Transformativeness Fair Use 'Warhol' Case Image

Supreme Court Set to Hear Transformativeness Fair Use 'Warhol' Case

Eric Alan Stone & Catherine Nyarady

In the October 2022 Term, the Supreme Court is set to decide whether courts assessing transformativeness under the first fair-use factor of the Copyright Act may consider "the meaning of the accused work where it 'recognizably deriv[es] from' its source material." The case may profoundly affect the fair use analysis, and in turn, the scope of copyright protection for many works.

Features

SCOTUS to Hear Cases on Limits of Mail and Wire Fraud Statutes Image

SCOTUS to Hear Cases on Limits of Mail and Wire Fraud Statutes

Robert J. Anello & Richard F. Albert

Federal courts long have struggled to define the limits of the mail and wire fraud statutes, laws famously characterized as the prosecutor's true love for their vast breadth and catch-all adaptability. After sidestepping opportunities in the past, the U.S. Supreme Court is now wading into two different and controversial manifestations of that flexibility.

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