November 4, 2024 – 6:38 AM PST
WASHINGTON (Reuters) – The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s (META.O) Facebook and Nvidia (NVDA.O) – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies to account.
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After a trio of Supreme Court rulings in June that weakened federal regulators – including the Securities and Exchange Commission that polices securities fraud – the justices may now be poised to rein in the power of private plaintiffs to enforce federal rules aimed at punishing corporate misconduct.
Andrew Feller, a former SEC lawyer now in private practice, said the Supreme Court’s recent track record of handing down business-friendly decisions that narrowed the authority of federal regulators…
