Supreme Court Asked To Hear SLUSA Preemption Appeal, Cure Circuit Split

Mealey's (January 13, 2023, 8:24 AM EST) -- WASHINGTON, D.C. — U.S. Supreme Court review of an 11th Circuit U.S. Court of Appeals panel’s ruling upholding the dismissal of class claims against an investment broker and its parent company is necessary because while the Supreme Court has issued guidance pertaining to the “in connection with” language used in the Securities Litigation Uniform Standards Act (SLUSA), it has yet to do so regarding other key language used in the statute, creating a split among the circuits, an investor alleges in a petition for writ of certiorari filed in the Supreme Court....