Credit Suisse Sec. (USA) LLC v. Billing

551 U.S. 264, 127 S.Ct. 2383, 168 L.Ed.2d 145 (2007)

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Credit Suisse Sec. (USA) LLC v. Billing

United States Supreme Court
551 U.S. 264, 127 S.Ct. 2383, 168 L.Ed.2d 145 (2007)

Facts

A group of investors in several initial public offerings (Billing) (plaintiffs) brought suit against several banks (Credit Suisse) (defendants), alleging violation of federal antitrust laws. Billing challenged the conduct of Credit Suisse, which was alleged to have collaborated with other investment banks regarding exceptionally restrictive conditions on buyers of securities issued through initial public offerings. The district court ruled in favor of Credit Suisse, with the Second Circuit reversing. Credit Suisse then petitioned for certiorari to the United States Supreme Court.

Rule of Law

Issue

Holding and Reasoning (Breyer, J.)

Dissent (Thomas, J.)

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