Should the SEC Allow IPOs When Bylaws Require Arbitration of Federal Securities Claims?

The last time it confronted the issue, in 2012, the SEC effectively blocked the IPO of a U.S. company, Carlyle Group, whose governing documents required the arbitration of federal securities claims.

July 26, 2018 at 02:30 PM

2 minute read

By Andrew Rhys Davies

Epic Systems Corp. v. Lewis Epic Systems Id. every Id. see Morrison v. Nat'l Australia Bank Ltd see Janus Capital Grp., Inc. v. First Derivative Traders see Merrill Lynch, Pierce, Fenner & Smith Inc. v. Dabit see S.E.C. v. W.J. Howey Co see Aaron v. SEC see United States v. O'Hagan |

SEC Blocks Carlyle Group IPO in 2012

substantive See Rodriguez de Quijas v. Shearson/American Express, Inc., Shearson/American Express, Inc. v. McMahon, Epiq Systems See CompuCredit Corp. v. Greenwood See see see, e.g., Volt Information Services, Inc. v. Bd. of Trustees of the Leland Stanford Junior University see Hill Int'l, Inc. v. Opportunity Partners L.P Epic Systems Chevron See Epic Systems See id. Andrew Rhys Davies is a partner in the litigation practice at Allen & Overy LLP in New York. He assists clients with their U.S. litigation and regulatory problems, focusing on securities and financial services, and on cross-border matters involving jurisdictional and comity issues.