United States Eighth Circuit

In an appeal primarily addressing whether the Securities Litigation Uniform Standards Act of 1998 (SLUSA) preempted state-law claims that a trustee breached its fiduciary duty by failing to disclose conflicts of interest in its selection of nationally-traded investment securities, the circuit court finds that SLUSA does preempt.

Appellate Information

• Decided 05/19/2008
• Published 05/19/2008

Judges

• SHEPHERD, Circuit Judge., Before COLLOTON and SHEPHERD, Circuit Judges, and GOLDBERG, Judge.

Court

• United States Eighth Circuit

Counsel

• For Appellees:
  
• Richard A. Lockridge, argued, Minneapolis, MN, Gregg M. Fishbein, Minneapolis, MN, Richard D. Greenfield, Easton, MD, and Steven M. Hamburg, St. Louis, MO, on the brief, for appellants/cross-appellees., James C. Martin, argued, Pittsburgh, PA, Gregory S. Spencer, San Francisco, CA, Gregory B. Jordan, Mary J. Hackett, and Christopher J. Soller, Pittsburgh, PA, and Jeffrey Scott Russell and Elizabeth C. Carver, St. Louis, MO, on the brief, for Appellee/Cross-Appellant Bank of America and Appellees Bank of America Corp., Columbia Management Advisors, Columbia Management Distributors, and Banc of America Investments., Stephen M. Colangelo, argued, Washington, D.C., Laurie A. Hand and Tim A. O'Brien of Washington, D.C. and Barry Short, St. Louis, MO, on the brief, for Appellee Columbia Funds Series Trust.