The Supreme Court of the United States Blog today presents an enlightening analysis of Monday’s decision in Regents of the University of California v. Credit Suisse First Boston (USA), Inc., No. 06-20856 (5th Cir. Mar. 19, 2007). (See Blawgletter posts here and here.)
SCOTUSblog notes, among other things, that Regents may enhance the likelihood that the U.S. Supreme Court will grant review of two other cases involving similar issues under the Securities Exchange Act. The Court now has before it certiorari petitions in the Eighth Circuit case that the Fifth Circuit majority embraced in holding that the Regents plaintiffs failed to state a securities fraud claim under Rule 10b-5 as well as in the Ninth Circuit case that the majority rejected. SCOTUSblog also points out that the Justices will consider the petitions in their upcoming conference on Friday.