Securities Law – The Jumpstart Our Businesses Startups Act–Emerging Growth Companies– The Act’s deregulation of a heavily regulated stock market flies in the face of the historical importance of disclosure in Securities Regulation and the potential dangers may be displayed in a case analysis of the Initial Public Offerings of Facebook, Inc. and Twitter, Inc.
BY KAREN KANE
The Supreme Court of the United States affirmed a judgment of the Court of Appeals for the Third Circuit against Merck & Co. by holding that the complaint filed by the investors was not barred by the limitations period but was timely because the investors had not discovered the scienter facts material to the violation by either actual or constructive discovery.
BY JESSE KRUEGER
The United States Court of Appeals for the Third Circuit affirmed denial of class certification to note purchaser on basis that reasonable reliance could not be presumed based on the fraud created the market theory and that the fraud created the market theory does not apply…
BY DENNIS HOUGH
The Supreme Court of the United States affirmed the judgment of the Court of Appeals for the Eighth Circuit by denying an injured investor‘s private right of action against aiders and abettors of the primary actor because the investor did not rely on the secondary actors‘ actions.