On Remand From Sixth Circuit, State Street Beats Stock-Drop Claim; Presumption Applies

Bill Boies was co-counsel representing a major financial services firm in a Michigan federal court ruling which held that the firm is entitled to summary judgment on stock-drop claims in an ERISA lawsuit. The ruling follows a remand from the Sixth Circuit, which previously reversed a 2010 ruling by the same district court granting the firm’s motion to dismiss, and marks one of the few times a stock-drop case has progressed past the motion-to-dismiss stage of litigation. Read the full article