Attorneys React To Ruling On SLUSA Loophole

Law360, New York (March 22, 2006, 12:00 AM EST) -- After the Supreme Court ruled earlier this week that class-action securities lawsuits brought by holders are no longer allowed to proceed in state courts, attorneys are abuzz with how the ruling will impact the securities litigation landscape.

The Court decided Tuesday to close a loophole in class action securities litigation that had previously permitted some shareholder lawsuits to continue in state courts. The justices stated that civil suits dealing with investors who maintain their stocks and claim securities fraud are required to litigate in federal court...
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