U.S. High Court To Clarify Liability For Omitting Interim Financial Data

( November 13, 2026, 4:03 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Nov. 13 granted a petition for a writ of certiorari filed by Robinhood Markets Inc., its executives and directors and underwriters in a dispute over the firm’s alleged failure to disclose deteriorating financial performance before its initial public offering but limited to the question, “Whether an issuer can be found liable under the misleading-omissions prong of Section 11(a) of the Securities Act of 1933, 15 U.S.C. 77a et seq., based on a determination that the issuer failed to disclose interim financial information that is material within the meaning of Section 11(a), without an additional inquiry to determine whether the omission rendered any affirmative statement misleading.”...