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

Court:

U.S. Court of Appeals (Second Circuit)

Amicus Issue: 

Whether the rationale for applying the “fraud on the market” doctrine to issuer misstatements also applies to research analyst reports, and whether the Court should extend the Basic v. Levinson, 485 U.S. 228 (1988), presumption of reliance to research analyst reports, thereby subjecting research analysts and their firms to suits by large classes of investors, many of whom may not have been aware of the analyst’s opinions.

Counsel of Record:

Mayer, Brown, Rowe & Maw LLP

1909 K Street, NW
Washington, DC 20006

Andrew J. Pincus
Miriam R. Nemetz

Mayer, Brown, Rowe & Maw LLP

71 South Wacker Drive
Chicago, IL 60606

Stephen M. Shapiro
Timothy S. Bishop