''Slack Technologies, LLC v. Pirani'', 598 U.S. ___ (2023), was a
United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that turn on question ...
case in which the Court held that to state a claim under
Section 11(a) of the
Securities Act of 1933
The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and afte ...
, a plaintiff must plead and prove that he purchased "such security" that is "traceable to the allegedly defective registration statement".
[.]
Subsequent developments
The case was remanded to the Ninth Circuit, which held in 2025 that because the plaintiff previously conceded that he could not make the required showing that the securities that he purchased were traceable to the particular registration statement alleged to be false or misleading, all of his claims failed, and the court consequently reversed and remanded with instructions to dismiss the complaint in full and with prejudice.
"PIRANI V. SLACK TECHNOLOGIES, No. 20-16419 (9th Cir. 2025)"
/ref>
References
External links
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2023 in United States case law
United States Supreme Court cases
United States Supreme Court cases of the Roberts Court
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