WASHINGTON - Relief. That's what officials at a number of big banks, securities houses, and savings and loans must be feeling in the wake of the Supreme Court's decision last week in Plaut v. Spendthrift Farm Inc.

Justice Antonin Scalia, in the 7-2 decision, said Congress ran afoul of the Constitution when it tried to reinstate scores of securities fraud suits that the federal courts had dismissed.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.