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Lorenzo v. Securities and Exchange Commission

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Docket No. Op. Below Argument Opinion Vote Author Term
17-1077 D.C. Cir. Dec 3, 2018 Mar 27, 2019 6-2 Breyer OT 2018

Holding: Dissemination of false or misleading statements with intent to defraud can fall within the scope of Securities and Exchange Commission Rules 10b–5(a) and (c), as well as the relevant statutory provisions, even if the disseminator cannot be held liable under Rule 10b–5(b).

Judgment: Affirmed, 6-2, in an opinion by Justice Breyer on March 27, 2019. Justice Thomas filed a dissenting opinion, in which Justice Gorsuch joined. Justice Kavanaugh took no part in the consideration or decision of the case.

SCOTUSblog Coverage

DateProceedings and Orders (key to color coding)
Dec 15 2017Application (17A657) to extend the time to file a petition for a writ of certiorari from December 28, 2017 to January 26, 2018, submitted to The Chief Justice.
Dec 19 2017Application (17A657) granted by The Chief Justice extending the time to file until January 26, 2018.
Jan 26 2018Petition for a writ of certiorari filed. (Response due March 2, 2018)
Feb 23 2018Motion to extend the time to file a response from March 2, 2018 to April 2, 2018, submitted to The Clerk.
Feb 27 2018Motion to extend the time to file a response is granted and the time is extended to and including April 2, 2018.
Mar 26 2018Motion to extend the time to file a response from April 2, 2018 to May 2, 2018, submitted to The Clerk.
Mar 28 2018Motion to extend the time to file a response is granted and the time is further extended to and including May 2, 2018.
May 02 2018Brief of respondent Securities and Exchange Commission in opposition filed.
May 22 2018DISTRIBUTED for Conference of 6/7/2018.
May 23 2018Reply of petitioner Francis V. Lorenzo filed. (Distributed)
Jun 11 2018DISTRIBUTED for Conference of 6/14/2018.
Jun 18 2018Petition GRANTED.
Jul 31 2018Motion for an extension of time to file the opening briefs on the merits filed.
Jul 31 2018Motion to extend the time to file the opening briefs on the merits granted. The time to file the joint appendix and petitioner's brief on the merits is extended to and including August 20, 2018. The time to file respondent's brief on the merits is extended to and including October 5, 2018.
Aug 20 2018Joint appendix filed. (Statement of costs filed.)
Aug 20 2018Brief of petitioner Francis V. Lorenzo filed.
Aug 27 2018Brief amici curiae of Securities Industry and Financial Markets Association and Chamber of Commerce of the United States of America filed.
Aug 27 2018Amicus brief of Securities Law Professors not accepted for filing. (Duplicate submission - September 10, 2018)
Aug 27 2018Brief amici curiae of Securities Law Professors filed.
Oct 05 2018Brief of respondent Securities and Exchange Commission filed.
Oct 05 2018Motion to argue pro hac vice filed by respondent Securities and Exchange Commission.
Oct 09 2018SET FOR ARGUMENT on Monday, December 3, 2018
Oct 12 2018Brief amicus curiae of The North American Securities Administrators Association, Inc. filed.
Oct 15 2018Record received from the U.S.C.A. District of Columbia Circuit.
Oct 19 2018CIRCULATED
Oct 19 2018Justice Kavanaugh is recused in this case.
Oct 26 2018Motion to argue pro hac vice filed by respondent GRANTED. Justice Kavanaugh took no part in the consideration or decision of this motion.
Nov 01 2018Reply of petitioner Francis V. Lorenzo filed. (Distributed)
Dec 03 2018Argued. For petitioner: Robert Heim, New York, N. Y.; For respondent: Christopher G. Michel, Assistant to the Solicitor General, Department of Justice, Washington, D. C. (pro hac vice.)
Mar 27 2019Adjudged to be AFFIRMED. Breyer, J., delivered the opinion of the Court, in which Roberts, C. J., and Ginsburg, Alito, Sotomayor, and Kagan, JJ., joined. Thomas, J., filed a dissenting opinion, in which Gorsuch, J., joined. Kavanaugh, J., took no part in the consideration or decision of the case.