BFA Files Amicus Brief in Significant U.S. Supreme Court Case

On October 2, 2024, BFA filed a Supreme Court amicus brief in NVIDIA Corp. v. E. Ohman J:or Fonder AB as counsel for Professor Brian T. Fitzpatrick of Vanderbilt Law School.  Based on the text of the Private Securities Litigation Reform Act of 1995 and the original meanings of its key terms, Professor Fitzpatrick argues that securities fraud plaintiffs are neither required to detail the “contents” of internal company documents nor prohibited from using expert analyses at the pleading stage.  Further, in response to NVIDIA’s policy arguments, Professor Fitzpatrick presents compelling empirical evidence that the current PSLRA pleading standard is too high—not too low—because “the vast majority of corporate fraud is never remedied.”  Professor Fitzpatrick thus concludes that courts should encourage, rather than prevent, private securities class actions.

A copy of the brief can be found on the right.