Tag: SCOTUS

Adhering to Dirks, SCOTUS decides Salman v. US

by Cydney Posner In a case decided unanimously today, Salman v. United States, SCOTUS upheld the Ninth Circuit affirmation of Bassam Salman’s conviction for insider trading, “adher[ing] to Dirks, which easily resolves the narrow issue presented here.”

In re Sanofi: 2d circuit considers misleading statements of opinion after Omnicare

by Cydney Posner In an early appellate decision applying Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund,  a three-judge panel of the 2d Circuit,  on March 4, issued its opinion in  In re Sanofi. The plaintiffs in that case had alleged that defendants’ material omissions regarding a drug candidate – […]

SCOTUS decides Omnicare: 6th Circuit applied incorrect standards in the context of liability under §11 for statements of opinion

by Cydney Posner Today, SCOTUS issued its opinion in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund.   In the case, SCOTUS answers these questions: First, when can a statement of opinion be considered a “false statement of material fact”? That is, for purposes of §11, a “strict […]

SCOTUS hears Omnicare: when can a statement of opinion be actionable as a “false statement of material fact”?

by Cydney Posner Yesterday, SCOTUS heard oral argument  in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund. The case seeks to answer this question: when can a statement of opinion be actionable as a “false statement of material fact”?  That is, for purposes of Section 11, a “strict […]