Fifth Third Bank SLUSA Fight Heads To High Court

Law360, New York (March 26, 2010, 2:58 PM EDT) -- A putative class of trust beneficiaries that lost a securities and breach of contract suit against Fifth Third Bank NA has taken its case to the U.S. Supreme Court, saying court intervention could resolve a growing circuit court split over the Securities Litigation Uniform Standards Act.

Plaintiff Daniel J. Segal's petition for writ of certiorari, docketed March 19, asks the high court to resolve the “exceptionally important and recurring question” of whether certain state law claims that involve securities are precluded by SLUSA.

The circuit courts...
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