In this article, originally published in the New Jersey Law Journal, shareholder John S. Stapleton and associate Jason A. Levine explore the recent Merrill Lynch v. Manning case, in which the Supreme Court was asked to determine what standard courts must apply when determining whether an action falls within section 27 of the Exchange Act’s exclusive jurisdiction clause.
Stapleton and Levine examine the case and decision, and also discuss possible far-reaching consequences of it, including affecting courtroom and filing strategies and substantially impact litigation involving other federally-regulated industries, such as energy and natural gas.
