Even though the swaps, based on Volkswagen's share price, involved U.S. participants and were signed in New York, they're precluded by the Supreme Court's ruling in Morrison v. National Australia Bank, Judge Harold Baer ruled. For securities defendants, Morrison is the gift that keeps on giving.

Thanks in no small part to earlier rulings in a related case against Verizon brought by a company called ActiveVideo and its lawyers at Morgan Lewis, Cablevision may be clear of Verizon's ITC claims over digital set-top box technology.

The private equity company stated in IPO documents that all shareholder disputes must be settled by individual, confidential arbitrations. As long as investors know what they're getting into before they buy the stock, is anyone outside the class action plaintiffs bar being harmed?