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Top Court Tosses Emulex Case One Week After Argument (Corrected)

April 23, 2019, 2:09 PMUpdated: April 23, 2019, 5:37 PM

The U.S. Supreme Court won’t decide after all whether investors can sue when companies negligently omit information from tender offers.

The court dismissed two computer hardware firms’ appeal as “improvidently granted” April 23, just one week after hearing oral arguments. Several justices seemed skeptical April 15 of the companies’ request that the court consider whether there’s any private right to sue over tender offer omissions.

A dismissal on this basis “is never really a grand slam, but this a pretty solid ground-rule double,” Daniel L. Geyser, who represented the investors, told Bloomberg Law. The investors “argued three times” that the ...