News & Analysis as of

SLUSA Ponzi Scheme Supreme Court of the United States

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - March 2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between December 2018 and February 2019....more

Burr & Forman

Texas Two Step: “In Connection With” At The End Of Its Tether?

Burr & Forman on

The familiar “in connection with the purchase or sale” securities-litigation requirement may not be unlimited in its breadth, after all. On February 26, the US Supreme Court pulled up short defendants in litigation by...more

Manatt, Phelps & Phillips, LLP

Financial Services Law - Mar 14, 2014

State and Federal Lawmakers, Chair of Fed Weigh in on Regulation of Virtual Currency - The New York Department of Financial Services issued an order on Wednesday that it will immediately start accepting applications...more

Genova Burns LLC

Recent Supreme Court Decision Undermines SLUSA Security for Secondary Actors in Ponzi Schemes

Genova Burns LLC on

The Supreme Court’s February 26, 2014 decision in Chadbourne & Parke LLP v. Troice, et al., has eliminated a potential protection for secondary actors (such as investment advisors, law firms or insurance brokerages) that...more

Sheppard Mullin Richter & Hampton LLP

United States Supreme Court Resolves Circuit Split and Narrows Scope of SLUSA

In Chadbourne & Parke LLP v. Troice, Nos. 12-79, 12-86 and 12-88, 2014 U.S. LEXIS 1644 (U.S. Feb. 26, 2014), the Supreme Court of the United States resolved a split in the circuits regarding whether alleged misrepresentations...more

Pillsbury Winthrop Shaw Pittman LLP

High Court Limits Application of Phrase “In Connection With” for Federal Securities Laws

On February 26, 2014, the U.S. Supreme Court ruled in Chadbourne & Parke LLP v. Troice et al. that the Securities Litigation Uniform Standards Act of 1998 (“SLUSA”) does not preclude class action lawsuits asserting state law...more

Perkins Coie

Supreme Court Holds That SLUSA Does Not Preempt State Law Claims Of Investors In Stanford Ponzi Scheme

Perkins Coie on

Recently, the U.S. Supreme Court limited the scope of the preemption of state law class actions afforded by the Securities Litigation Uniform Standards Act of 1998 (SLUSA) in Chadbourne & Parke LLP v. Troice, No. 12-79 (U.S....more

Eversheds Sutherland (US) LLP

No SLUSA Protection Absent Material Connection With Sale/Purchase of Covered Security

In Chadbourne & Parke LLP v. Troice, the U.S. Supreme Court held on February 26, 2014, that the victims of Allen Stanford’s multibillion-dollar Ponzi scheme can proceed with their claims against law firms, insurance brokers,...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Week ending February 28, 2014)

Dorsey & Whitney LLP on

The Supreme Court handed down a significant decision, construing SLUSA in the context of suits by investors defrauded investors in the Stanford Ponzi scheme. The Court concluded that the Act does not bar four state law class...more

Bradley Arant Boult Cummings LLP

U.S. Supreme Court Ruling Opens the Door to More State-Law Securities Class Actions

Today, in a 7-2 decision with Justice Breyer writing for the majority, the Supreme Court issued a narrow interpretation of when the federal Securities Litigation Uniform Standards Act (“SLUSA”) preempts state-law securities...more

BakerHostetler

U.S. Supreme Court To Review Fifth Circuit’s SLUSA Decision in Stanford Ponzi Scheme Case

BakerHostetler on

The Supreme Court recently granted certiorari to examine the “in connection with” requirement of the Securities Litigation Uniform Standards Act (“SLUSA”) in Chadbourne & Parke LLP v. Troice, No. 12-79....more

Dechert LLP

The United States Supreme Court Will Review the Scope of Federal Preclusion of State Securities Claims

Dechert LLP on

On January 18, 2013, the United States Supreme Court granted certiorari to resolve a circuit split concerning the extent to which the Securities Litigation Uniform Standards Act of 1998 (“SLUSA”) preempts state law claims...more

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