Wednesday, March 22, 2006

Merrill Lynch Escapes from Oklahoma Class Action

Supreme Court stakes out Federal Control over Securities class actions. In an 8-0 decision Merrill Lynch was saved from an Oklahoma state legal action. While I probably agree with the justice that Oklahoma attempted I do not believe 50 state systems would have had a beneficial impact on securities regulation. Merrill Lynch courtesy of Skadden Arps et al skates away. Jay Kasner notches the supreme court ruling victory.