High Court Rules In Favor Of Banks In IPO Case

Law360, New York (June 18, 2007, 12:00 AM EDT) -- In a victory for Wall Street, the U.S. Supreme Court has ruled that plaintiffs cannot make antitrust claims against banks that underwrite initial public offerings.

The High Court handed down a verdict in Credit Suisse First Boston v. Glen Billing on Monday, ruling that “the securities law implicitly precludes the application of antitrust laws to the conduct alleged in this case.”

“We were very pleased by this decision, which found direct support from prior Supreme Court cases,” said Mayer Brown Rowe & Maw LLP partner Steven...
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