SIFMA has submitted an Amicus “Friend of the Court” Brief

Court:

U.S. Supreme Court

Amicus Issue:  Whether the Fourth Circuit erred in concluding – in direct conflict with decisions of the Fifth, Sixth, and Eighth Circuits – that a service provider can be held primarily liable in a private securities-fraud action for “help[ing]” or “participating in” another company’s misstatements.  Whether the Fourth Circuit erred in concluding – in direct conflict with decisions of the Second, Tenth, and Eleventh Circuits – that a service provider can be held primarily liable in a private securities-fraud action for statements that were not directly and contemporaneously attributed to the service provider.
Counsel of Record:

Sidley Austin LLP
1501 K Street, NW
Washington, DC 20005

Carter G. Phillips
Jonathan F. Cohn
Daniel A. McLaughlin
Eric D. McArthur