February 2, 2007
Highest NY Court to Consider Form U-5 Privilege Issue
An important and unresolved question is whether securities firms can be sued for libel if the information they are required to disclose on Form U-5 about an employee's employment termination is incorrect. The New York Court of Appeals will hear arguments in a case this month that should resolve the split among New York courts between an absolute and a qualified privilege. WSJ gives background on the issue in Some Brokers Can't Flee Past.
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