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Two class action lawsuits claiming that 10 investment banks violated antitrust laws while underwriting initial public offerings during the late 1990s stock market boom have been thrown out by a Manhattan federal judge. The court made its finding under the doctrine of implied immunity, which exempts anti-competitive conduct in the securities arena if Congress has given a government agency the power to regulate the conduct.
November 04, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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