Supreme Court hears oral argument in Credit Suisse Antitrust Case

Oral argument was held yesterday before the Supreme Court in Credit Suisse Securities v. Billings, where plaintiffs are attempting to sue underwriting firms under the antitrust laws for IPO practices that defendants say should be exclusively regulated under the securities laws.  The Justices' questions suggested that they might decide the case on "primary jurisdiction" grounds.  See WSJ, Wall Street Appeals to High Court.