5th CIRCUIT REVERSES JUDGE GODBEY'S SLUSA DECISIONS
On March 19, 2012, the 5th Circuit Court of Appeals issued its opinion reversing Judge Godbey’s orders finding that SLUSA, the Securities Litigation Uniform Standards Act, applied to and required the dismissal of the Roland v. Green, Troice v. Willis and Troice v. Proskauer Rose lawsuits. The 5th Circuit remanded the Roland v. Green lawsuit to the Louisiana state court where it was originally filed, and it remanded the Troice v. Willis and Troice v. Proskauer Rose lawsuits to Judge Godbey’s court for further proceedings. The Defendants in any or all of those lawsuits may seek further review by the full 5th Circuit court or may file a petition for review with the United States Supreme Court.
You may review a copy of the 5th Circuit’s opinion HERE.
