Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
Second Circuit Review: Disclosures Negate Claim of Auction Rate Securities Market Manipulation
January 3, 2012
To read the article, click here.
Litigation partners Marty Flumenbaum and Brad Karp's Second Circuit Review column appeared in the December 28 issue of the New York Law Journal. The authors discuss Wilson v. Merrill Lynch & Co., in which the U.S. Court of Appeals for the Second Circuit affirmed a district court's dismissal of a complaint alleging auction rate securities market manipulation for failure to state a claim. The court's opinion considered whether a claim for market manipulation could be stated under Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934, where a broker-dealer made certain disclosures regarding its involvement in the auction rate securities market. Litigation associate Sarah K. Weber assisted in the preparation of the column.