BLB&G Partners John C. Browne and Lauren A. Ormsbee Present Emerging Dynamics Impacting Section 11 Litigation: SPACs, Direct Listings, and PSLRA Litigation Stays Webinar
November 12, 2021
On November 12, 2021, BLB&G partners John C. Browne and Lauren A. Ormsbee will build on their recent articles concerning the risks to alleging Section 11 liability posed to investors in new public companies through the unprecedented and potentially dangerous rise of SPACs and the pending Ninth Circuit decision addressing the applicability of Section 11 remedies in the case of IPO direct listings.
The session will review the elements and framework of Section 11 of the Securities Act of 1933, examine both plaintiff’s and defendant’s arguments for and against Section 11 accountability in the case of SPACs and direct listings, and argue that Section 11’s remedial purpose, recent SEC releases and statements, and relevant jurisprudence suggests that Section 11 strict liability should prevail. The panelists will also discuss other emerging issues impacting Section 11 litigation, including the Supreme Court’s decision to review whether the PSLRA’s discovery-stay provision applies to Section 11 claims brought in state court and other new developments, including a recent decision granting defendants summary judgment in a Section 11 case on the affirmative defense of negative causation.
- Events BLB&G Partners John Browne and Lauren Ormsbee Present Webinar on Emerging Developments in Securities Act Class Action Litigation August 4, 2022 Learn More
- Publications “Section 11’s Tracing Doctrine Goes Up to the Supreme Court” by John C. Browne and Lauren Ormsbee Published in The Review of Securities & Commodities Regulation March 17, 2023 Learn More
- Publications "Ninth Circuit Slack Decision Withstands En Banc Rehearing Petition: Is A Supreme Court Cert Petition Next?" by BLB&G Partners John C. Browne and Lauren Ormsbee May 4, 2022 Learn More
- Publications "The Year of the SPACs: The Incredible Rise and Welcome Fall of Special Purpose Acquisition Companies" by BLB&G Partners John C. Browne and Lauren Ormsbee May 13, 2021 Learn More
- Publications "9th Circ. Case Could Gut Section 11 Shareholder Protections" by John C. Browne and Lauren Ormsbee published by Law360 May 26, 2021 Learn More
- Publications "Why Slack Decision Struck A Nerve With Corporate America" by John C. Browne and Lauren Ormsbee published in Law360 November 4, 2021 Learn More
- News Law360 Highlights Lauren A. Ormsbee's Article on Pirani v. Slack Technologies As One of Its Most Highly Read November 12, 2021 Learn More
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