Commercial Litigation Partner Michael O’Mullan weighed in regarding Monday’s U.S. Supreme Court ruling on the Merrill Lynch v. Manning case. The U.S. Supreme Court held that federal securities laws don't preempt some claims from being brought in state court, upholding a Third Circuit ruling that sent a suit against a Merrill Lynch unit and other Wall Street firms back to a New Jersey state court. Mike noted this decision may add “complexity to the application of federal jurisdiction in similar cases.”
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