Law360, New York (March 02, 2010, 2:34 PM ET) -- A federal judge has thrown out a pair of putative class actions over the merger that created the Financial Industry Regulatory Authority, ruling that the defendants have absolute immunity as a self-regulatory organization.
Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York on Monday dismissed with prejudice two cases over alleged misrepresentations in a proxy statement urging shareholders in the National Association of Securities Dealers Inc. to approve the merger with the New York Stock Exchange's regulatory branch that...
Class Actions Over FINRA Merger Tossed
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