SLUSA As A Defense In Excessive Fees Litigation

Law360, New York (February 19, 2008, 12:00 AM EST) -- In the Supreme Court’s 2006 decision in Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006), the Court gave an expansive reading to the Securities Litigation Uniform Standards Act (“SLUSA”).

During the two years since the Dabit decision, lower courts have applied the Supreme Court's reasoning by extending SLUSA’s preclusive scope to a wide range of class actions brought under state law.

This guest column reports on some of the recent cases to apply Dabit to claims for excessive or undisclosed fees...
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