Mealey's (April 6, 2023, 8:19 AM EDT) -- WASHINGTON, D.C. — Calling a shareholder’s alleged policy concerns in support of a Ninth Circuit U.S. Court of Appeals ruling that the 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 “a dramatic expansion of the Act’s scope of liability,” a company argues in a reply brief filed in the U.S. Supreme Court that the justices should overturn the appellate court’s ruling....