Supplemental Comments on Digital Asset Markets (Joint Trades)
SIFMA and joint associations provided additional comments to the President’s Working Group (PWG) on Digital Asset Markets Chair in support…
Court:
U.S. Supreme Court
Amicus Issue:
Whether the court erroneously certified an investor class based solely on the type of general, aspirational statements about a financial services firm’s business principles and internal controls that the Second Circuit has repeatedly held are not actionable, because no reasonable investor would rely on such statements.
Whether the court erroneously ruled that to rebut the fraud-on-the-market presumption of class-wide reliance by showing that the challenged statements did not impact the issuer’s stock price, as authorized by Halliburton II, Defendants must “demonstrate a complete absence of price impact” with “conclusive evidence.”
Counsel of Record:
Simpson Thacher & Bartlett LLP
Jonathan K. Youngwood
Craig S. Waldman
Joshua Polster
Daniel Owsley
Other Amici:
U.S. Chamber of Commerce
American Bankers Assoc.
Bank Policy Institute
American Property Casualty Insurance Assoc.
SIFMA and joint associations provided additional comments to the President’s Working Group (PWG) on Digital Asset Markets Chair in support…
SIFMA AMG provided comments to the Treasury Markets Practices Group (TMPG) on the Consultative White Paper and Proposed Best Practice…
SIFMA provided comments to the Financial Accounting Standards Board (FASB) on the Invitation to Comment - Financial Key Performance Indicators…