Second Circuit Won't Revive 'Auction Rate Securities' Conspiracy Case
Date: 03/25/13
Source: The New York Law Journal. Reprinted with permission.
The U.S. Court of Appeals for the Second Circuit affirmed dismissal of claims that financial institutions conspired to stop buying auction rate securities and triggered the market’s collapse. A district court ruled that a lawsuit alleging that private equity funds agreed to refrain from competing with one another in acquisitions of public companies could proceed to trial, after narrowing the scope of the claims.
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