SIFMA submitted an Amicus “Friend of the Court” Brief
Court:  
N.Y. Court of Appeals

Amicus Issues: 
Whether the lead underwriter in an initial public offering owes a fiduciary duty to the issuer of securities to disclose conflicts of interest in connection with the pricing of the securities, absent a distinct relationship of higher trust that arises apart from the underwriting agreement.

Counsel of Record:  

Cleary Gottlieb Steen & Hamilton LLP
Lewis J. Liman
Sheryl B. Shapiro
Michelle J. Parthum   

Other Amici: 
None.