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SEC Creates Special Purpose Broker Dealer for Custody Digital Ass

SEC Creates Special Purpose Broker Dealer for Custody Digital Ass
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Ninth Circuit Permits Direct-Listing to Assert Securities Claims

In Pirani v. Slack Technologies, Inc.,1 a divided panel of the U.S. Court of Appeals for the Ninth Circuit held that investors who purchase stock in a direct listing in which pre-existing shares are sold to the public without underwriters.

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