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Silicon Valley securities litigators file amicus petition urging Ninth Circuit to grant en banc reconsideration in Slack direct listing lawsuit

A three-judge panel of the Ninth Circuit Court of Appeals held in September that strict liability for false or misleading statements extends beyond the shares registered in the offering, including to shares exempt under Rule 144. Citing three fundamental flaws in the panel’s ruling, Freshfields securities litigators Boris Feldman, Doru Gavril, Drew Liming and Abigail West have filed an amicus petition on behalf of former SEC Commissioner and Stanford Law School Professor Joseph Grundfest urging the Ninth Circuit to grant en banc reconsideration.

Read the petition here.


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