An award of fair and reasonable attorney fees in a securities class action precludes a subsequent malpractice case under the “relitigation” exception to the Anti-Injunction Act, the U.S. Court of Appeals for the Second Circuit held yesterday.
Addressing an issue of first impression, the circuit said that Wyly v. Weiss, 10-4785-cv, a state malpractice action, may be enjoined by a federal judge where the parties had a “full and fair opportunity to litigate counsel’s representation.”
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