We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SLUSA Preempts State-Law Claim V. BofA: 8th Circ.

Law360 (June 16, 2008, 12:00 AM EDT) -- For the second time in less than a month, a U.S. appellate court has ruled that trust account beneficiaries are preempted from filing class action state-law claims against Bank of America NA by the Securities Litigation Uniform Standards Act.

Judge Bobby E. Shepherd of the U.S. Court of Appeals for the Eighth Circuit said Monday that the complaint brought by a group of beneficiaries of fiduciary accounts was essentially identical to another case that the same court found last month to preempted by SLUSA.

The class...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.