Civil Rights
Block on Trump's Asylum Ban Upheld by Supreme Court
In a securities fraud action alleging that defendant bank failed to make certain disclosures relating to the mutual funds it offered, the dismissal of the complaint is affirmed where: 1) neither the Securities Act nor Form N-1A required defendants to disclose the information that plaintiffs allege was omitted; and 2) a careful review of plaintiffs' allegations revealed that the true object of their claims was the alleged malfeasance of the mutual funds' affiliated broker-dealer entities and not the public offerings conducted by the funds themselves.
Read In re Morgan Stanley Info. Fund Secs. Litig., No. 09-0837
Appellate Information
Argued: November 13, 2009
Decided: January 25, 2010
Judges
Opinion by Judge Wesley
Counsel
For Appellants:
Dani W. Krasner, Jeffrey S. Nobel and Nancy A. Kulesa, Izard Nobel LLP, Hartford,
CT
For Appellees:
Richard A. Rosen and Walter Rieman, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY