Mealey's (February 9, 2023, 3:15 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court should overturn a Ninth Circuit U.S. Court of Appeals ruling that a shareholder may state a claim for violations of Section 11 of the Securities Act of 1933 for shares of a company he purchased without being able to show that he relied on an allegedly misleading registration statement provided in connection with the issuance of the securities because “text, history and structure” of Section 11 and Section 12(a)(2) of the act “require plaintiffs to plead and prove that they bought registered shares,” the company argues in a petitioner’s merits brief filed in the Supreme Court....