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Lorenzo v. Securities and Exchange Commission

Docket No. Argument Opinion Vote Author Term
17-1077 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)
12/15/2017Application (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.
12/19/2017Application (17A657) granted by The Chief Justice extending the time to file until January 26, 2018.
01/26/2018Petition for a writ of certiorari filed. (Response due March 2, 2018)
02/23/2018Motion to extend the time to file a response from March 2, 2018 to April 2, 2018, submitted to The Clerk.
02/27/2018Motion to extend the time to file a response is granted and the time is extended to and including April 2, 2018.
03/26/2018Motion to extend the time to file a response from April 2, 2018 to May 2, 2018, submitted to The Clerk.
03/28/2018Motion to extend the time to file a response is granted and the time is further extended to and including May 2, 2018.
05/02/2018Brief of respondent Securities and Exchange Commission in opposition filed.
05/22/2018DISTRIBUTED for Conference of 6/7/2018.
05/23/2018Reply of petitioner Francis V. Lorenzo filed. (Distributed)
06/11/2018DISTRIBUTED for Conference of 6/14/2018.
06/18/2018Petition GRANTED.
07/31/2018Motion for an extension of time to file the opening briefs on the merits filed.
07/31/2018Motion 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.
08/20/2018Joint appendix filed. (Statement of costs filed.)
08/20/2018Brief of petitioner Francis V. Lorenzo filed.
08/27/2018Brief amici curiae of Securities Industry and Financial Markets Association and Chamber of Commerce of the United States of America filed.
08/27/2018Amicus brief of Securities Law Professors not accepted for filing. (Duplicate submission - September 10, 2018)
08/27/2018Brief amici curiae of Securities Law Professors filed.
10/05/2018Brief of respondent Securities and Exchange Commission filed.
10/05/2018Motion to argue pro hac vice filed by respondent Securities and Exchange Commission.
10/09/2018SET FOR ARGUMENT on Monday, December 3, 2018
10/12/2018Brief amicus curiae of The North American Securities Administrators Association, Inc. filed.
10/15/2018Record received from the U.S.C.A. District of Columbia Circuit.
10/19/2018CIRCULATED
10/19/2018Justice Kavanaugh is recused in this case.
10/26/2018Motion to argue pro hac vice filed by respondent GRANTED. Justice Kavanaugh took no part in the consideration or decision of this motion.
11/01/2018Reply of petitioner Francis V. Lorenzo filed. (Distributed)
12/03/2018Argued. 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.)
03/27/2019Adjudged 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.