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Plumbers Local 290 Pension Trust Fund v. Root, Inc., et al.
Paid petition · United States Court of Appeals for the Sixth Circuit, No. 23-3392 · judgment April 29, 2024
Before the decision, well below the 4.1% base rate, with no standout signals pointing toward a grant.
Question presented
This petition presents a question nearly identical to that already before the Court in Facebook, Inc. v. Amalgamated Bank, No. 23-980. The circuits have split two ways concerning whether a company’s disclosure in the “Risk Factors” section of an SEC filing is misleading if it warns that a risk may or could materialize when that risk has already transpired at the time the company spoke. The First, Second, Third, Fifth, Ninth, and D.C. Circuits hold that it is misleading to disclose that a risk may or could materialize when that risk has already transpired. The Sixth Circuit has adopted a second, outlier position that such disclosures are never misleading. The question is thus whether the Court should resolve the conflict. (i)
Counsel of record
For petitioner
Steven F. Hubachek
Robbins Geller Rudman & Dowd LLP
For respondent
Joe Wesley Earnhardt
Cravath, Swaine & Moore LLP
Proceedings
- Dec 06 2024Petition Dismissed - Rule 46.
- Dec 04 2024Joint motion to dismiss the petition pursuant to Rule 46 filed.
- Dec 02 2024DISTRIBUTED for Conference of 12/6/2024.
- Oct 16 2024DISTRIBUTED for Conference of 11/1/2024.
- Oct 15 2024Reply of petitioner Plumbers Local #290 Pension Trust Fund filed. (Distributed)
- Sep 30 2024Brief of respondents Root, Inc., et al. in opposition filed.
- Aug 28 2024Petition for a writ of certiorari filed. (Response due September 30, 2024)
- Jul 22 2024Application (24A68) granted by Justice Kavanaugh extending the time to file until August 28, 2024.
- Jul 16 2024Application (24A68) to extend the time to file a petition for a writ of certiorari from July 28, 2024 to August 28, 2024, submitted to Justice Kavanaugh.