SECURITIES LAW 
Published: January 22, 2013
Tags: class actions, preemption, securities, Securities Litigation Standards Act
Does the Securities Litigation Standards Act preempt state law class actions claiming that the defendant engaged in a Ponzi scheme involving misrepresentations about transactions with securities covered by the federal act?
See “Can plaintiffs recover from Ponzi scheme in state court?”
Chadbourne & Parke LLP v. Troice, No. 12-79, consolidated with Willis of Colorado Inc. v. Troice, No. 12-86 and Proskauer Rose LLP v. Troice, No. 12-88. Certiorari granted: Jan. 18, 2013. Ruling below: 675 F.3d 503 (5th Cir. 2012).
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