U.S. Supreme Court,
Securities,
9th U.S. Circuit Court of Appeals
Apr. 22, 2019
A private right to sue over tender offers
A new issue quickly spilled onto center stage in a securities case currently before the U.S. Supreme Court: whether investors have a private right of action to bring claims under Section 14(e) of the Securities Exchange Act at all.
Matthew W. Close
Securities Litigation Partner
O'Melveny & Myers LLP
400 S Hope St 18th Fl
Los Angeles , CA 90071
Phone: (213) 430-6000
Fax: (213) 430-6407
Email: mclose@omm.com
UC Berkeley SOL Boalt Hall; Berkeley CA
Brittany A. Rogers
Appellate Litigation Counsel
O'Melveny & Myers LLP
Phone: (213) 430-8349
Email: brogers@omm.com
When the U.S. Supreme Court granted certiorari in Emulex Corp. v. Varjabedian earlier this year, many court watchers and securities litigators expected a straightforward fight over the question presented: whether negligent misstatements in a tender offer suffice for investors to pursue claims under Section 14(e) of the Securities Exchange Act of 1934. For decades, the 2nd, 3rd, 5th, 6th and 11th U.S. Circuit Courts of Appeals had held that ...
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