In a case alleging what one federal appellate court described as an "epic Wall Street conspiracy," the U.S. Supreme Court soon will examine the scope of antitrust immunity. In Credit Suisse v. Billing, purchasers of Internet and technology stocks sold in IPOs in the 1990s charge that investment banks conspired with institutional investors to inflate prices, generating billions in illegal profits. The securities industry argues that immunity results from a conflict with federal securities regulations.
Credit Suisse Case Brings 'Epic' Wall Street Battle Before Supreme Court
The National Law Journal
March 22, 2007