Go to Case 41.2, Merrill Lynch, Pierce, Fenner & Smith, Inc.v.Dabit, 547 U.S.71,126 S.Ct.1503,164 L.Ed.2d 179 (2006), on pages 847–849. Read the excerpt and answer the following questions.
(a) Issue: The dispute in this case centered on whether a certain federal statute covered the claims of a certain class of investors who had been the alleged victims of fraud. What was the statute, who were the investors, and how were they allegedly defrauded?
(b) Rule of Law: On what “requisite showing” did the Court base its decision in this case?
(c) Applying the Rule of Law: What were the reasons for the Court’s conclusion? What rule of statutory interpretation supported this reasoning? How did the purpose of the statute influence its application?
(d) Conclusion: How did the Court’s ruling affect the investors’ claims?