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Jordan Joachim

Jordan Joachim is a litigation associate in the firm’s New York office. His practice focuses on complex commercial litigation, including securities and shareholder litigation, contract disputes, trade secret litigation, and class actions. He has experience representing clients at all stages of litigation, from case inception through trial and appeal. Jordan also advises clients on issues relating to corporate governance, cybersecurity, data privacy, and trade secrets.

In a short, unanimous opinion on April 12, 2024, the Supreme Court shut the door on “pure omission” claims under Rule 10b–5 and made clear that the Rule is limited to claims based on false or misleading statements.

The case, Macquarie Infrastructure Corp. v. Moab Partners, L.P., concerns alleged omissions in Defendant Macquarie’s SEC filings related to its subsidiary’s operation of bulk liquid storage terminals.  In 2016, the United Nations’ International Maritime Organization issued a regulation limiting this subsidiary’s ability to store high-sulfur fuel oil, its single largest product. Though the regulation was set to take effect in 2020, Macquarie did not discuss the regulation in its public filings.Continue Reading Supreme Court rejects pure omission claims under SEC Rule 10b–5