On October 30, 2025, WLF urged the Ninth Circuit to affirm the dismissal of a novel securities class action. Joined by the U.S. Chamber of Commerce and the Securities Industry and Financial Markets Association, WLF’s amicus brief contends that Section 11 of the Securities Act of 1933 limits damages to losses below the IPO price caused by registration statement defects, precluding recovery for price drops above the offering price. WLF’s amicus brief was prepared with the pro bono assistance of Mark Fleming, Timothy Perla, and Mark Hanin of Wilmer Cutler Pickering Hale & Dorr LLP.
Documents: