NY Swap Contract Ruling Means Defenses Hinge On ‘S-Word’ – Law360
Investment pacts must explicitly bar actions tied to the products they govern to be invoked as a defense against common-law or statutory claims, New York’s top court ruled Tuesday, a decision experts say will send lawyers scrambling to make sure their financial industry clients’ no-suit clauses feature the crucial word ‘securities.’
Past President Vince Chang, partner at Wollmuth Maher & Deutsch LLP, is prominently quoted in Law360’s “NY Swap Contract Ruling Means Defenses Hinge on ’S-Word,’” by Pete Brush. Among other insights, Vince shared his opinon: "The absence of one word — literally one word — makes a big difference in how these things are litigated,“ said Wollmuth Maher & Deutsch LLP complex litigation partner Vincent Chang. "If you already are in litigation, you’d better check to see if [securities] is in there.” Click on the link to read more.