Represented Morgan Keegan & Company, in a multi-district class action antitrust action pending in the Southern District of New York. Morgan Keegan, along with dozens of other securities industry defendants, was sued in approximately a dozen actions in various jurisdictions, all alleging that defendants conduct constituted a nationwide conspiracy to rig the bidding process, and otherwise affect the prices of, municipal securities derivative products. Morgan Keegan, together with a sub-group of defendants against which the plaintiffs had not made any specific allegations of wrongdoing, filed a joint motion to dismiss in the lead action. The motion was decided in Morgan Keegan's favor, resulting in its dismissal as a party in the lead action, and providing substantial momentum toward the goal of removing the client from all aspects of this massive and costly litigation. Foley served on the drafting committee for the motion to dismiss and worked with a group of co-defendants' counsel to craft a persuasive and successful position for presentation to the court.