The U.S. Supreme Court today held, 7-1, that investors can’t sue investment banks under antitrust law for conspiring to restrict competition in public sales of securities. Credit Suisse Securities LLC v. Billing, No. 05-1157 (June 18, 2007). WSJ story here; NYT here.
The Court also granted review of a Fourth Circuit decision involving section 502(a)(2) of the Employee Retirement Income Security Act in LaRue v. DeWolff, Boberg & Assoc., Inc., No. 06-856 (U.S. June 18, 2007). Order List here.
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