Friday, September 09, 2011

Sixth Circuit -- Richard Atkinson v. Morgan Asset Management, Inc.

SLUSA bars securities fraud class action.

Claim not within first Delaware carve-out, as complint alleged that plaintiffs were induced to hold the shares for too long, not buy them.

Dismissal with prejudice upheld - class shaving not kosher.

Richard Atkinson v. Morgan Asset Management, Inc.
Compiled by D.E. Frydrychowski, who is, not incidentally, not giving you legal advice.

Category tags above are sporadically maintained Do not rely. Do not rely. Do not rely.

Author's SSRN page here.