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'Series 7' Score Suit Prohibited By Law: DC Circ.

Law360 (November 7, 2008, 12:00 AM EST) -- Agreeing that common law complaints against self-regulatory organizations for negligent performance of duties are barred by Congress, a federal appeals court has upheld a lower court's decision to throw out a suit brought by a group of securities dealers over miscalculated Series 7 broker exam scores.

The U.S. Court of Appeals for the District of Columbia Circuit on Friday handed down an opinion condemning the appellants' arguments and affirming the lower court's finding.

“Despite a seemingly impenetrable wall of contrary precedent, plaintiffs argue that while suits...
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