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Latest Securities Litigation Uniform Standards Act Stories

2006-03-21 14:05:00

By Kevin Drawbaugh WASHINGTON (Reuters) - The U.S. Supreme Court on Tuesday ruled unanimously in favor of investment bank Merrill Lynch in a decision limiting shareholders' ability to bring certain class action cases in state courts. The court found that a 1998 law prevents certain kinds of shareholder lawsuits from being brought at the state level, rather than the federal level. "The magnitude of the federal interest in protecting the integrity and efficient operation of the market...

2006-03-21 11:03:17

WASHINGTON (Reuters) - The U.S. Supreme Court on Tuesday ruled unanimously in favor of Wall Street investment bank Merrill Lynch in a decision to limit shareholders' rights to bring certain kinds of securities class actions. Finding that 1998's Securities Litigation Uniform Standards Act (SLUSA) does cover certain kinds of lawsuits, the court ruled in Merrill's favor, said Skadden Arps Slate Meagher & Flom, attorneys for the investment bank, in a statement. The ruling "is of...


Word of the Day
out-herod
  • In the phrase to out-herod Herod, to be more violent than Herod (as represented in the old mystery plays); hence, to exceed in any excess of evil.
Herod refers to 'Herod the Great,' a Roman client king and 'a madman who murdered his own family and a great many rabbis.' According to the OED, the term is 'chiefly with allusion to Shakespeare's use' in Hamlet.
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