|Docket No.||Op. Below||Argument||Opinion||Vote||Author||Term|
|09-525||4th Cir.||Dec 7, 2010||Jun 13, 2011||5-4||Thomas||OT 2010|
Holding: Because the petitioner, a mutual fund investment adviser, did not make the false statements included in the mutual fund prospectuses of its clients, it cannot be held liable in a private action under SEC Rule 10b5, which prohibits mak[ing] any untrue statement of fact in connection with the purchase or sale of securities, for its role in preparing those prospectuses.
Plain English Holding: Investment advisors to a mutual fund cannot be sued under federal securities law for false statements made by the fund they advised.
Judgment: Reversed, 5-4, in an opinion by Justice Clarence Thomas on June 13, 2011. Justice Breyer filed a dissenting opinion, which Justices Ginsburg, Sotomayor, and Kagan joined.
Just in: The next Supreme Court opinion day will be next Monday. The court expects to release one or more opinions in argued cases from the current term.
End of an era: Here is NBC News prez Noah Oppenheim's memo about Pete Williams' plan to retire this summer
The Supreme Court sides with Sen. Ted Cruz in his First Amendment challenge to a federal campaign-finance law that limits how and when candidates can recoup loans that they make to their own campaigns. The vote is 6-3 along ideological lines.
In an immigration case, SCOTUS rules 5-4 that federal courts do NOT have jurisdiction to review certain executive-branch factual findings that determine whether non-citizens are eligible for "adjustment of status." Those findings can dictate whether a person is deported.
SCOTUS agrees to take up two new cases: Jones v. Hendrix (a habeas corpus case) and SEC v. Cochran (a case about the power of district courts to hear challenges to the constitutionality of the SEC's administrative law proceedings). Full order list here: https://www.supremecourt.gov/orders/courtorders/051622zor_hgcj.pdf
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Today at SCOTUS: The court will issue one or more opinions in argued cases at 10 a.m. EDT. But first, orders on pending petitions at 9:30. We'll fire up our live blog at 9:25 to break it all down and answer your questions. Grab some ☕️ and come join us: https://www.scotusblog.com/2022/05/announcement-of-orders-and-opinions-for-monday-may-16/