Bloomberg Law interviewed Partner Michael P. Canty for its article, "Meta Case Leads Justices to Ponder Further Role for SEC on Risks.”  

The article highlights how the U.S. Supreme Court, in November 7, 2024, oral arguments, expressed interest in returning to the SEC the job of refining companies’ risk disclosure requirements.

“The court could issue a ruling—with a suggestion to the SEC that it issue a rule,” Mike explains. “It remains to be seen whether the SEC takes up rulemaking."

Fact-intensive inquiries are best for district courts to handle, he says. “If the Supreme Court gives guidance, it will be helpful to district courts."

The case is Facebook, Inc. v. Amalgamated Bank., No. 23-980.