Mealey's Litigation Procedure - High Court's Ruling In Morrison Precludes Investor Claims, Panel Rules

NEW YORK - A federal district court did not err in dismissing a federal securities class action lawsuit, a Second Circuit U.S. Court of Appeals panel ruled May 6, because, among other things, the shareholders' claims were precluded under the U.S. Supreme Court's ruling in Morrison v. National Australia Bank, Ltd. (City of Pontiac Policemen's and Firemen's Retirement System, et al. v. UBS AG, et al., No. 12-4355, 2nd Cir.; 2014 U.S. App. LEXIS 8533).

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