Forum
U.S. Supreme Court
Case Status
Pending
Docket Number
Lower Court Opinion
Questions Presented
1. Whether an issuer violates Section 11(a)’s misleading-omissions prong by failing to disclose interim financial data that investors may consider material, without an inquiry into whether the omission rendered any affirmative statement misleading.
2. Whether an issuer violates Item 303—and thus Section 11(a)’s required-statements prong—by failing to disclose and quantify interim financial data before quarterly reporting deadlines.
Case Updates
U.S. Chamber files coalition amicus brief urging Supreme Court to resolve conflict in the lower courts over an issuer’s disclosure obligations under Section 11(a) of the Securities Act and Item 303 of Regulation S-K
March 11, 2026
U.S. Chamber Coalition Amicus Brief
Eamon P. Joyce, Francesca Brody, Ausjia Perlow, Brandon Nye, and Matthew J. Dolan of Sidley Austin LLP served as outside counsel.