Employers in the securities industry cannot be sued over the contents of the Form U-5 notices they must file with the National Association of Securities Dealers when terminating employees, the Court of Appeals ruled Thursday.

In a decision of major import to New York’s financial services industry, the court decided in Rosenberg v. MetLife, 23, that the U-5 submissions, which disclose the reasons for termination and are available to regulators and prospective employers, are analogous to complaints made against attorneys and are entitled to the same absolute privilege against lawsuits.

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