FINANCIAL SERVICES CASES
U.S. 8th Circuit, May 19, 2008
Siepel v. Bank of America, N.A., No. 07-1899/07-1906
In an appeal primarily addressing whether the Securities Litigation Uniform Standards Act of 1998 (SLUSA) preempted state-law claims that a trustee breached its fiduciary duty by failing to disclose conflicts of interest in its selection of nationally-traded investment securities, the circuit court finds that SLUSA does preempt.
Read more...
