Supreme Court Looks To Solicitor General In IPO Case

Law360, New York (June 19, 2006, 12:00 AM EDT) -- The U.S. Supreme Court has asked the Bush administration to weigh in on whether shareholders should be able to file antitrust claims against the world’s leading investment banks over their role in initial public offerings.

The Court has asked the Solicitor General for comments on a petition filed by 16 Wall Street firms in response to an appeals court decision that allowed shareholder claims to be asserted under federal antitrust laws rather than under U.S. Securities and Exchange Commission rules.

A judge originally tossed out several...
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