FOR IMMEDIATE RELEASE - June 18, 2007                                     CONTACT: Brendan LaCivita

Chamber Applauds Supreme Court Dismissal of Securities Class Action

WASHINGTON, D.C.--Robin Conrad, executive vice president of the National Chamber Litigation Center (NCLC), commented on today's decision by the U.S. Supreme Court in Credit Suisse Securities (USA) LLC, et al., v. Billing, et al., dismissing this securities class action on the grounds that antitrust laws do not apply to the Initial Public Offering (IPO) of stocks.

"Today's ruling correctly holds that IPOs are effectively regulated by securities laws and not antitrust laws. Subjecting the IPO process to antitrust claims for triple damages threatens U.S. capital markets by making them less attractive for companies to raise capital in the global marketplace, thereby risking expansion and the creation of jobs. By removing the uncertainty that comes with conflicting statutes, the high court's decision furthers the competitiveness of U.S. capital markets, encouraging capital formation."

NCLC, the public policy law firm of the U.S. Chamber of Commerce, is a membership organization that advocates fair treatment of business in the courts and before regulatory agencies. The U.S. Chamber of Commerce is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

NCLC

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