High Court's Emulex Issue Is Narrower Than Some Suggest

Law360 (January 18, 2019, 2:07 PM EST) -- In Emulex Corp. v. Gary Varjabedian et al., the U.S. Supreme Court recently granted a petition for writ of certiorari filed by Emulex Corporation to resolve a circuit split concerning the appropriate standard of knowledge under Section 14(e) of the Securities Exchange Act of 1934, which generally prohibits fraudulent or deceptive conduct in connection with a tender offer.

However, some have seen the case as an opportunity for the high court to go far beyond that question and deny investors any ability to bring claims under Section 14(e), declaring that no private right of action exists, regardless of the standard....

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