SLUSA Does Not Dispatch Mutual Fund Misrepresentation Class Action, Third Circuit Says: Taksir v. The Vanguard Group
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By David C. Franceski, Jr.

*In order to be “in connection with” the purchase or sale of a covered security under SLUSA,

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Investment Adviser’s Ads Subtract Important Information, Court Concurs in SEC Review: ZPR Inv. Mgmt. Inc. v. SEC
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By Burton W. Wiand

*A court must affirm the SEC’s findings of fact so long as they are “supported by substantial evidence” and may overturn a sanction only upon finding a gross abuse of discretion.

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Terms of Account Agreement Trumps Oral Assurances and Ensuing Avowals: Dahan v. JPMorgan Chase Bank N.A. & J.P. Morgan Securities, LLC
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By Paul J. Dubow

*A court will not take judicial notice of a document issued by a brokerage firm after a customer’s account was closed for purposes of determining the firm’s duty to the customer.

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