Tracing Trouble: Ninth Circuit Dismisses Slack Investor Lawsuit

By Mo Son & Brian Hirshberg on March 3, 2025

On February 10, 2025, the Ninth Circuit Court of Appeals ruled in favor of Slack Technologies LLC, dismissing an investor class action lawsuit brought under Sections 11 and 12(a)(2) of the Securities Act. This decision follows the 2023 U.S. Supreme Court ruling, which held that the Slack plaintiffs must trace their purchased securities to the…

SEC Adopts Climate Change Disclosure Rules Applicable to Public Companies and Offerings

By Anna T. Pinedo, Lawrence Cunningham (Contributor), Matthew Bisanz, James B. Carlson, David Carpenter, J. Paul Forrester, Gonzalo Go, Kimberly Hamm, Brian Hirshberg, Jerry R. Marlatt, Andrew J. Olmem, Laura D. Richman, James Taylor, Jacqueline Vallette & Oliver Williams on March 9, 2024

The Securities and Exchange Commission (the “SEC”) has adopted new rules that require public companies to disclose substantial information about the material impacts of climate-related risks on their business, financial condition, and governance (the “Final Rules”). The SEC says that “climate-related risks, their impacts, and a public company’s response to those risks can significantly affect…