Craig Varnen Quoted on High Court's Merrill Lynch Ruling in Law360
Craig Varnen discussed the significance of the U.S. Supreme Court ruling in Merrill Lynch v. Manning on May 16 in Law360:
“Merrill Lynch is a welcome development for the traditional plaintiffs securities litigation bar, as well those litigating against improper short selling. The general trend going back decades has been for Congress and the Supreme Court to place additional hurdles making it more difficult to establish securities claims in federal court. Most securities plaintiffs thus prefer to litigate in state court. Merrill Lynch — which indicates that cases referring to federal securities law but seeking no relief under such law are properly litigated in state court — will provide plaintiffs with more access to perceived friendlier state court fora.”
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