Investor Urges Supreme Court to Pass on Trend Omission as Fraud

A Macquarie Infrastructure Corp. investor said the US Supreme Court should decline to review a case alleging the company didn’t disclose known trends because a circuit split “has proven superficial” and the issue has grown less important.

The investor, Moab Partners LP, got a green light from the Second Circuit to proceed with its securities fraud case in December 2022. The appeals court cited circuit precedent about the viability of claims built on statements under a certain Securities and Exchange Commission regulation when it reinstated the case.

Macquarie petitioned for Supreme Court review in May. A securities fraud claim shouldn’t ...