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3rd Circuit Upholds Dismissal of Class Action Against Salomon Smith BarneyFrom: Larry Glazerman (dean@thehuffpeople.net)Sun Feb 20 11:37:13 2005
.. 3rd Circuit Upholds Dismissal of Class Action Against Salomon Smith Barney The Legal Intelligencer Taking a broad reading of the Securities Litigation Uniform Standards Act, a unanimous 3rd Circuit panel has upheld the removal and dismissal of a state court class action suit against Salomon Smith Barney brought by brokerage customers who claimed they were given biased investment research. The appeals court found that although the suit sounded only in state law claims, the allegations related to the purchase or sale of securities and were therefore pre-empted by SLUSA. http://www.law.com/jsp/article.jsp?id=1108389936040 Dean G. Huffman
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