Settlement May Scuttle Securities-Fraud Clash at Supreme Court
- Leidos, investors say they have a settlement in principle
- Argument scheduled for Nov. 6 in shareholder-report dispute
Visitors wait to enter the U.S. Supreme Court in Washington, D.C.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The U.S. Supreme Court may drop a scheduled securities-fraud clash after the two sides told the justices they are near a settlement.
The high court is scheduled to hear arguments Nov. 6 in a case stemming from a New York City contract fraud and Leidos Inc.’s $500 million settlement with the city in 2012. The case asks the court to clarify investors’ ability to sue companies for omitting information from shareholder reports.