Mealey's (March 7, 2023, 1:32 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court should affirm 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 he purchased without being able to show that he relied on a company’s allegedly misleading registration statement because Sections 11 and 12(a)(2) of the Securities Act “create civil liability in order to protect investors and deter fraud” when public disclosures turn out to be untruthful, eight former Securities and Exchange Commission officials argue in a March 6 brief filed as amici curiae....