October Term 2018 · Docket 18-459
Does Section 14(e) allow private suits for negligence?
Emulex seeks to bar private negligence claims under securities law. Varjabedian argues the statute permits such suits.
Verified source milestones
- — An official oral-argument transcript was verified.
- — An official oral-argument transcript was verified.
The arguments, in order
This case may have been argued more than once. Each entry below uses that session's official transcript. Later arguments do not erase earlier ones.
Argument 1 ·
What happened at the argument
Emulex argued the Ninth Circuit created an unprecedented private right.
Varjabedian argued statutory construction supports the implied right.
Justice Ginsburg questioned why the issue was raised late in the process.
Read the official transcript for this argument · Official argument details
Sources used for this argument breakdown
- Official Supreme Court Transcript — file page 10, lines 13-15 — Transcript, file page 10, lines 13-15
- Official Supreme Court Transcript — file page 10, lines 18-20 — Transcript, file page 10, lines 18-20
- Official Supreme Court Transcript — file page 10, lines 32-34 — Transcript, file page 10, lines 32-34
- Official Supreme Court Transcript — file page 11, lines 8-15 — Transcript, file page 11, lines 8-15
- Official Supreme Court Transcript — file page 12, lines 15-17 — Transcript, file page 12, lines 15-17
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 4, lines 32-16 — Transcript, file page 4, lines 32-16
- Official Supreme Court Transcript — file page 4, lines 8-15 — Transcript, file page 4, lines 8-15
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 6, lines 28-34 — Transcript, file page 6, lines 28-34
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 68, lines 32-10 — Transcript, file page 68, lines 32-10
- Official Supreme Court Transcript — file page 69, lines 20-6 — Transcript, file page 69, lines 20-6
- Official Supreme Court Transcript — file page 7, lines 18-20 — Transcript, file page 7, lines 18-20
- Official Supreme Court Transcript — file page 7, lines 31-6 — Transcript, file page 7, lines 31-6
- Official Supreme Court Transcript — file page 70, lines 22-23 — Transcript, file page 70, lines 22-23
- Official Supreme Court Transcript — file page 70, lines 27-31 — Transcript, file page 70, lines 27-31
- Official Supreme Court Transcript — file page 70, lines 34-6 — Transcript, file page 70, lines 34-6
- Official Supreme Court Transcript — file page 71, lines 21-28 — Transcript, file page 71, lines 21-28
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
- Official Supreme Court Transcript — file page 74, lines 25-31 — Transcript, file page 74, lines 25-31
- Official Supreme Court Transcript — file page 74, lines 33-33 — Transcript, file page 74, lines 33-33
- Official Supreme Court Transcript — file page 75, lines 15-15 — Transcript, file page 75, lines 15-15
- Official Supreme Court Transcript — file page 75, lines 18-20 — Transcript, file page 75, lines 18-20
- Official Supreme Court Transcript — file page 75, lines 23-25 — Transcript, file page 75, lines 23-25
- Official Supreme Court Transcript — file page 75, lines 32-33 — Transcript, file page 75, lines 32-33
- Official Supreme Court Transcript — file page 76, lines 22-26 — Transcript, file page 76, lines 22-26
- Official Supreme Court Transcript — file page 8, lines 34-15 — Transcript, file page 8, lines 34-15
- Official Supreme Court Transcript — file page 9, lines 23-25 — Transcript, file page 9, lines 23-25
- Official Supreme Court Transcript — file page 9, lines 28-34 — Transcript, file page 9, lines 28-34
A citizen's guide to the whole case
What this case is about
The dispute centers on whether federal courts can imply private rights of action. Emulex argues against implied rights. Varjabedian supports implied rights for negligent misrepresentations.
Official sources for this section
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
How the case got here
The Supreme Court heard oral argument in this case on April 15, 2019.
Official sources for this section
- Official Supreme Court Transcript — file page 4, lines 8-15 — Transcript, file page 4, lines 8-15
- Official Supreme Court Transcript — file page 76, lines 22-26 — Transcript, file page 76, lines 22-26
What each side wants
Emulex wants the Court to reverse the Ninth Circuit decision.
Varjabedian wants the Court to affirm the implied private right.
Official sources for this section
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
What each side says
Emulex argues federal courts should not create implied private rights.
Varjabedian argues statutory text supports implied private enforcement.
Official sources for this section
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
What the justices asked
Justice Sotomayor asked why the Court should reward the side that brought the case.
Justice Kagan asked if the argument focused on the negligence standard.
Official sources for this section
- Official Supreme Court Transcript — file page 10, lines 13-15 — Transcript, file page 10, lines 13-15
- Official Supreme Court Transcript — file page 10, lines 18-20 — Transcript, file page 10, lines 18-20
- Official Supreme Court Transcript — file page 10, lines 32-34 — Transcript, file page 10, lines 32-34
- Official Supreme Court Transcript — file page 11, lines 8-15 — Transcript, file page 11, lines 8-15
- Official Supreme Court Transcript — file page 12, lines 15-17 — Transcript, file page 12, lines 15-17
- Official Supreme Court Transcript — file page 4, lines 32-16 — Transcript, file page 4, lines 32-16
- Official Supreme Court Transcript — file page 6, lines 28-34 — Transcript, file page 6, lines 28-34
- Official Supreme Court Transcript — file page 68, lines 32-10 — Transcript, file page 68, lines 32-10
- Official Supreme Court Transcript — file page 69, lines 20-6 — Transcript, file page 69, lines 20-6
- Official Supreme Court Transcript — file page 7, lines 18-20 — Transcript, file page 7, lines 18-20
- Official Supreme Court Transcript — file page 7, lines 31-6 — Transcript, file page 7, lines 31-6
- Official Supreme Court Transcript — file page 70, lines 22-23 — Transcript, file page 70, lines 22-23
- Official Supreme Court Transcript — file page 70, lines 27-31 — Transcript, file page 70, lines 27-31
- Official Supreme Court Transcript — file page 70, lines 34-6 — Transcript, file page 70, lines 34-6
- Official Supreme Court Transcript — file page 71, lines 21-28 — Transcript, file page 71, lines 21-28
- Official Supreme Court Transcript — file page 74, lines 25-31 — Transcript, file page 74, lines 25-31
- Official Supreme Court Transcript — file page 74, lines 33-33 — Transcript, file page 74, lines 33-33
- Official Supreme Court Transcript — file page 75, lines 15-15 — Transcript, file page 75, lines 15-15
- Official Supreme Court Transcript — file page 75, lines 18-20 — Transcript, file page 75, lines 18-20
- Official Supreme Court Transcript — file page 75, lines 23-25 — Transcript, file page 75, lines 23-25
- Official Supreme Court Transcript — file page 75, lines 32-33 — Transcript, file page 75, lines 32-33
- Official Supreme Court Transcript — file page 8, lines 34-15 — Transcript, file page 8, lines 34-15
- Official Supreme Court Transcript — file page 9, lines 23-25 — Transcript, file page 9, lines 23-25
- Official Supreme Court Transcript — file page 9, lines 28-34 — Transcript, file page 9, lines 28-34
Why it matters
This case defines the scope of private securities litigation. It determines whether investors can sue for negligent misrepresentations. The outcome shapes future federal court authority over implied rights.
Official sources for this section
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
What happens next
This article currently covers the argument record. Use the official docket link for later case activity.
Official sources for this section
- Official Supreme Court Transcript — file page 10, lines 13-15 — Transcript, file page 10, lines 13-15
- Official Supreme Court Transcript — file page 10, lines 18-20 — Transcript, file page 10, lines 18-20
- Official Supreme Court Transcript — file page 10, lines 32-34 — Transcript, file page 10, lines 32-34
- Official Supreme Court Transcript — file page 11, lines 8-15 — Transcript, file page 11, lines 8-15
- Official Supreme Court Transcript — file page 12, lines 15-17 — Transcript, file page 12, lines 15-17
- Official Supreme Court Transcript — file page 4, lines 32-16 — Transcript, file page 4, lines 32-16
- Official Supreme Court Transcript — file page 4, lines 8-15 — Transcript, file page 4, lines 8-15
- Official Supreme Court Transcript — file page 6, lines 28-34 — Transcript, file page 6, lines 28-34
- Official Supreme Court Transcript — file page 68, lines 32-10 — Transcript, file page 68, lines 32-10
- Official Supreme Court Transcript — file page 69, lines 20-6 — Transcript, file page 69, lines 20-6
- Official Supreme Court Transcript — file page 7, lines 18-20 — Transcript, file page 7, lines 18-20
- Official Supreme Court Transcript — file page 7, lines 31-6 — Transcript, file page 7, lines 31-6
- Official Supreme Court Transcript — file page 70, lines 22-23 — Transcript, file page 70, lines 22-23
- Official Supreme Court Transcript — file page 70, lines 27-31 — Transcript, file page 70, lines 27-31
- Official Supreme Court Transcript — file page 70, lines 34-6 — Transcript, file page 70, lines 34-6
- Official Supreme Court Transcript — file page 71, lines 21-28 — Transcript, file page 71, lines 21-28
- Official Supreme Court Transcript — file page 74, lines 25-31 — Transcript, file page 74, lines 25-31
- Official Supreme Court Transcript — file page 74, lines 33-33 — Transcript, file page 74, lines 33-33
- Official Supreme Court Transcript — file page 75, lines 15-15 — Transcript, file page 75, lines 15-15
- Official Supreme Court Transcript — file page 75, lines 18-20 — Transcript, file page 75, lines 18-20
- Official Supreme Court Transcript — file page 75, lines 23-25 — Transcript, file page 75, lines 23-25
- Official Supreme Court Transcript — file page 75, lines 32-33 — Transcript, file page 75, lines 32-33
- Official Supreme Court Transcript — file page 76, lines 22-26 — Transcript, file page 76, lines 22-26
- Official Supreme Court Transcript — file page 8, lines 34-15 — Transcript, file page 8, lines 34-15
- Official Supreme Court Transcript — file page 9, lines 23-25 — Transcript, file page 9, lines 23-25
- Official Supreme Court Transcript — file page 9, lines 28-34 — Transcript, file page 9, lines 28-34
Official Court provenance
Official docket and case history · Official Supreme Court oral-argument detail page
Title and summary sources
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
- Official Supreme Court Transcript — file page 29, lines 23-28 — Transcript, file page 29, lines 23-28
- Official Supreme Court Transcript — file page 4, lines 16-31 — Transcript, file page 4, lines 16-31
- Official Supreme Court Transcript — file page 40, lines 16-10 — Transcript, file page 40, lines 16-10
- Official Supreme Court Transcript — file page 67, lines 28-31 — Transcript, file page 67, lines 28-31
- Official Supreme Court Transcript — file page 72, lines 32-23 — Transcript, file page 72, lines 32-23
Revision history
- Revision 1 · Official Transcript ·
Correction: Rewritten to the concise citizen-facing editorial standard.
- Revision 2 · Official Transcript ·
Correction: Migrated to the dated official Court activity contract without model use.