A Class Action Securities Fraud Claim Brought under State Law by Holders of Securities Is Preempted by a Federal Act Purporting to Encompass Claims Brought by Purchasers and Sellers: Merill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit

Authors

Matthew D. Haydo

Abstract

The United States Supreme Court held that the Securities Litigation Uniform Standards Act language "in connection with the purchase or sale of ... a security" encompasses the holding of securities and results in the preemption of state law.

Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 126 S. Ct. 1503 (2006).

First Page

325

Recommended Citation

Matthew D. Haydo, A Class Action Securities Fraud Claim Brought under State Law by Holders of Securities Is Preempted by a Federal Act Purporting to Encompass Claims Brought by Purchasers and Sellers: Merill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 45 Duq. L. Rev. 325 (2007).
Available at: https://dsc.duq.edu/dlr/vol45/iss2/7