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CAQ files amicus brief with U.S. Supreme Court in the matter of Deloitte & Touche LLP v. RGH Liquidating Trust

Tuesday, November 22, 2011

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QUESTION PRESENTED Whether the New York Court of Appeals, in agreement with the Ninth Circuit but in conflict with the Third Circuit, correctly derived from SLUSA’s “Counting of Certain Class Members” provision a “single-entity exemption” under which a state-law securities fraud action that indisputably was brought on behalf of more than 50 bondholders and would otherwise be precluded by SLUSA is permissible so long as the named plaintiff entity itself was not established for the “primary” purpose of bringing the lawsuit?