Posts tagged SLUSA.
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 investors in the bank CDs at the heart of Allen Stanford's Ponzi scheme. In four separate class actions (two in USDC-NDTX and two removed from Louisiana state court, but consolidated by the JPMDL) investors brought state-law securities and related claims - apparently hoping to avoid stricter Federal-law pleading requirements, and limits on private ...