Credit Suisse, Regulatory Immunity, and the Shrinking Scope of Antitrust

This article is part of a Chronicle. See more from this Chronicle

Keith Sharfman, Jun 29, 2007

Last week, in Credit Suisse Securities v. Billing, the U.S. Supreme Court dismissed a variety of antitrust claims brought by investors against underwriters from whom they had purchased securities, on the theory that securities underwriting is implicitly immune from antitrust scrutiny because it is an activity regulated by the securities laws. The underwriting firms had been accused, among other things,