Supreme Court Evaluates Private Cause of Action for Allegedly Lying by Omission
On January 16, 2024, the Supreme Court heard oral argument in Case Number 22-1165, Macquarie Infrastructure Corp., et al. v. Moab Partners, L.P., et al. Before the Court was whether a “failure to make a disclosure under Item 303 of the SEC regulation S-K can support a private claim under Section 10b of the Exchange Act, even in the absence of an otherwise misleading statement.”
Between February 2016, and February 2018, Macquarie Infrastructure Corporation (MIC) in various Management’s Discussion and Analysis allegedly “disclosed a few known trends that would affect their bottom line but omitted” a new […]