"9th Circ. Case Could Gut Section 11 Shareholder Protections" by John C. Browne and Lauren Ormsbee published by Law360

May 26, 2021

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BLB&G partners John C. Browne and Lauren Ormsbee discuss Pirani v. Slack Technologies, Inc., a case that was first decided in shareholders’ favor by Judge Susan Illston of the Northern District of California, and was appealed to the Ninth Circuit. Now, the Ninth Circuit is on the verge of deciding whether a new IPO mechanism will strip shareholders of any mechanism to enforce liability under the Securities Act of 1933.