Editor's Note :

Editor's Note :

There is a possibility of opinions on Wednesday, March 29. We will begin live-blogging at this link at 9:45 a.m.
On Wednesday the court hears oral argument in Turner v. United States. Amy Howe has our preview.
On Wednesday the court also hears oral argument in Honeycutt v. United States. Rory Little has our preview.

Willis of Colorado Inc. v. Troice

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Docket No. Op. Below Argument Opinion Vote Author Term
12-86 5th Cir. Oct 7, 2013
Tr.Aud.
Feb 26, 2014 7-2 Breyer OT 2013
 
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Disclosure: Goldstein & Russell, P.C., whose attorneys work for or contribute to this blog in various capacities, serves as counsel to the respondents in this case.

Holding: The Securities Litigation Uniform Standards Act of 1988 does not preclude the plaintiffs' state-law class actions contending that the defendants assisted in perpetrating a Ponzi scheme by falsely representing that uncovered securities that plaintiffs were purchasing were backed by covered securities.

Plain English Summary:

Judgment: Affirmed, 7-2, in an opinion by Justice Breyer on February 26, 2014. Justice Thomas filed a concurring opinion. Justice Kennedy filed a dissenting opinion, in which Justice Alito joined.

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Briefs and Documents

Disclosure: Goldstein & Russell, P.C., whose attorneys work for or contribute to this blog in various capacities, serves as counsel to the respondents in this case.   Issue: Whether a covered state law class action complaint that unquestionably alleges “a” misrepresentation “in connection with” the purchase or sale of a security covered by the Securities Litigation Uniform Standards Act nonetheless can escape the application of SLUSA by including other allegations that are farther removed from a covered securities transaction.
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