Supreme Court Bars Antitrust Class Actions Against Major Investment Banks on Implied Immunity Grounds

Supreme Court Bars Antitrust Class Actions Against Major Investment Banks on Implied Immunity Grounds

Client News

Related Solutions

We offer clients exceptional insight in dealing with competition agencies in the United States, Europe and around the world.
A global team handling highly complex and sensitive matters in all aspects of litigation.
WilmerHale has defended clients in hundreds of class, derivative, shareholder and individual actions alleging securities fraud, breach of fiduciary duty and other corporate misconduct.
Handling complex antitrust and competition litigation across the US, UK and Europe, representing both plaintiffs and defendants in various high-stakes cases.
WilmerHale has a record of success at all stages of enforcement proceedings—from informal inquiries to litigation.
WilmerHale has defended clients in hundreds of class, derivative, shareholder and individual actions alleging securities fraud, breach of fiduciary duty and other corporate misconduct.
On June 18, 2007, the Supreme Court held that the securities laws impliedly precluded application of the antitrust laws to an alleged conspiracy among ten leading investment banks that acted as underwriters for initial public offerings during the technology stock boom of the late 1990s. We formulated, argued and won in the District Court the motion to dismiss that was sustained by the Supreme Court.

This is the latest and most important in a series of decisions in which WilmerHale has successfully raised the immunity defense in the context of antitrust class actions against the securities industry.

WilmerHale represented Citigroup Global Markets in this litigation and its team included: Robert B. McCaw, Louis Cohen, Ali Stoeppelwerth, Fraser Hunter and Noah Levine.

Notice

Unless you are an existing client, before communicating with WilmerHale by e-mail (or otherwise), please read the Disclaimer referenced by this link.(The Disclaimer is also accessible from the opening of this website). As noted therein, until you have received from us a written statement that we represent you in a particular manner (an "engagement letter") you should not send to us any confidential information about any such matter. After we have undertaken representation of you concerning a matter, you will be our client, and we may thereafter exchange confidential information freely.

Thank you for your interest in WilmerHale.

I Accept Cancel