Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, February 6, 2007

Enron Class Action Challenged

Merrill Lynch and Credit Suisse argued yesterday before the 5th Circuit Court of Appeals that the Enron class action suit was improperly certified as a class-action.  It also argued that it could not be liable for securities fraud because it was not a direct participant in the fraud.  The trial is set for April.  See NY Times, Banks Appeal Ruling Allowing Enron Investors to Sue as Class.

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