December 8, 2006
Antitrust Liability for Underwriters?
The Supreme Court has granted the certiorari petition in the Credit-Suisse v. Billing, a Second Circuit case addressing antitrust immunity for underwriters under the securities laws. The Second Circuit overruled the district court last year in its dismissal of a complaint brought by investors against underwriters claiming that they had engaged in a practice of fixing the minimum prices for IPO's. A copy of the 2nd Circuit's opinion and a letter from SEC general counsel advocating immunity are linked below.
December 8, 2006 | Permalink
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