Supreme Court hears arguments on state court securities litigation News
Supreme Court hears arguments on state court securities litigation

The US Supreme Court [official website] heard oral arguments [day call, PDF] Tuesday in two cases. In Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Manning [transcript, PDF] the court will resolve the circuit split on whether Section 27 of the Securities Exchange Act of 1934 [text, PDF] provides federal jurisdiction over state-law claims based on violations or desired enforcement of the act. The US Courts of Appeal for the Fifth and Ninth Circuits have held that the act does provide federal jurisdiction, while the Second and Third Circuits have held that it does not.

In Menominee Indian Tribe of Wisconsin v. United States [transcript, PDF] the court will decide whether the US Court of Appeals for the for the District of Columbia Circuit misapplied the Supreme Court’s Holland v. Florida [opinion] decision when it ruled that the Menominee Tribe was not entitled to tolling of the statute of limitations for filing of Indian Self-Determination Act [text] claims for unpaid contract support costs under the Contract Disputes Act [text].

THIS DAY @ LAW

Justice Department brings anit-trust action against AT&T

On November 20, 1974, the Department of Justice filed its final anti-trust suit against AT&T. United States v. AT&T was ultimately settled out of court with an agreement that the corporation would break up its monopoly on phone service throughout the country.

Nuremberg war crimes trials began

On November 20, 1945, the war crimes trials of Nazi World War II leaders began in the German city of Nuremberg. Review the Nuremberg Tribunal's Charter and the verdicts and sentences handed down on major war figures.

Winston Churchill born

On November 20, 1874, Sir Winston Churchill was born in Woodstock, England. He would go on to lead the United Kingdom as Prime Minister through World War II. Toward the end of the war, Churchill worked with US President Franklin D. Roosevelt to craft the treaties and accords that have defined the world since WWII. A 2002 poll by the BBC declared Churchill the Greatest Briton of all time.

New Jersey ratifies Bill of Rights

New Jersey ratified the Bill of Rights, a set of 10 fundamental amendments to the US Constitution, on November 20, 1789, becoming the first state to do so. The state also ratified an amendment on federal representation which ultimately failed. Additionally, New Jersey rejected an amendment on congressional salaries, which would eventually become the 27th Amendment more than 200 years later. Read the articles ratified by New Jersey.