The Revised Focus Of Implied Antitrust Immunity

Law360, New York (July 16, 2007, 12:00 AM EDT) -- The Supreme Court’s decision in Credit Suisse v. Billings, number 05-1157, slip op. (June 18, 2007) was the third in this term’s by now well-documented, pro-defendant quartet of antitrust cases.

The opinion marked the Court’s first foray into the question of implied antitrust immunity in the face of congressional silence in over thirty years, since its simultaneous issue of Gordon v. New York Stock Exchange, 422 U.S. 659 (1975) and United States v. NASD, 422 U.S. 694 (1975).

In dismissing a class action complaint alleging antitrust...
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