Following the crash of the market for auction rate securities in early 2008, regulators as well as private litigants brought a series of suits against the brokerage houses which sold the securities. Typically the suits claimed that sells had misrepresented …
Month: November 2011
SLUSA BARS BREACH OF DUTY CLAIM TANGLED WITH MISREPRESENTATION
The Securities Litigation Uniform Standards Act of 1998 or SLUSA was passed to prevent a class action plaintiff from circumventing the stringent pleading requirements of the Private Securities Litigation Reform Act by filing in state court. The Third, Sixth and …
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