WASHINGTON - The Supreme Court yesterday left intact a federal appeals court ruling upholding a law that reinstated securities fraud claims that had been dismissed in the wake of the so-called Lampf case.

Because the justices did not hear arguments in the case and issue an opinion, yesterday's action is not considered binding national precedent. However, the lower court ruling is binding within the territory covered by the U.S. Court of Appeals for the 11th Circuit, which upheld the law on Sept. 11, 1992.

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