San Francisco - The U.S. Supreme Court yesterday ruled against investors who filed an antitrust lawsuit against a number of investment banks, which alleged inflated charges and prices collected during the dot-com boom of the late 1990s, CNET News.com reported.

In a 7-1 decision, the justices said the SEC already had enough power to regulate the investment banking industry and handle such complaints.

Defendants in the class action lawsuit included Credit Suisse Securities USA, Citigroup Global Markets and J.P. Morgan Securities.

Some of the plaintiffs' remaining cases, which pertain to stock purchases and allege securities law violations, are likely to proceed even after the ruling, Christopher Lovell, the attorney representing the investors, told News.com.

Lovell added that a proposed $425 million settlement with J.P. Morgan is still awaiting final court approval.

Related Links:
http://tinyurl.com/2dplzr (CNET)

http://www.supremecourtus.gov/opinions/06pdf/05-1157.pdf