An accomplished attorney with considerable experience in the field of business and commercial litigation, Neal Marder is a partner in the Los Angeles office of Winston & Strawn, a prominent law firm with operations throughout North America, Europe, and Asia. In May 2012, Neal Marder contributed to an article titled “Federal Securities Law Doesn’t Preclude State Law Class Actions,” in which he discussed the significance of Roland v. Green as it relates to the Securities Litigation Uniform Standards Act (SLUSA).
A class action lawsuit involving some 30,000 investors defrauded in a $7 million Ponzi scheme, Roland v. Green challenged the interpretation of SLUSA, which prevented the maintenance of state law class action suits connected with the sale or purchase of covered securities. A number of appeals courts interpreted SLUSA in different ways, which opened the door for vigorous debate among legal experts.
According to Mr. Marder, Roland v. Green could cause the U.S. Supreme Court to conduct a review of the SLUSA preclusion provision.