High Court Asked To Review 9th Circ. IPO Ruling

Law360, New York (April 13, 2011, 6:42 PM EDT) -- A shareholder who sued a slew of investment banks and company insiders over alleged short-swing trades related to initial public offerings is asking the U.S. Supreme Court to review a Ninth Circuit decision dismissing her claims.

In a petition for writ of certiorari filed April 5, petitioner Vanessa Simmonds said that the U.S. Court of Appeals for the Ninth Circuit in December wrongly applied a rule that applied to state derivative claims when it affirmed a lower court's dismissal of 30 of 54 cases, which were...
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