Stanford Ruling Confuses SLUSA Standard, Supreme Court Told

Law360, New York (July 20, 2012, 5:28 PM EDT) -- Chadbourne & Parke LLP urged the U.S. Supreme Court on Wednesday to put the kibosh on a securities class action over the firm's alleged role in the Stanford Ponzi scheme, arguing that it would resolve a circuit split over the "in connection with" standard of the Securities Litigation Uniform Standards Act.

In March, the Fifth Circuit revived lawsuits against Chadbourne, Proskauer Rose LLP and others after finding that the suits are only "tangentially related" to SLUSA-covered securities trades. But Chadbourne & Parke argued in a petition...
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