Task: sc_issue_8

What follows is an opinion from the Supreme Court of the United States. Your task is to determine the issue of the Court's decision. Determine the issue of the case on the basis of the Court's own statements as to what the case is about. Focus on the subject matter of the controversy rather than its legal basis.

Justice Breyer
delivered the opinion of the Court.
A group of buyers of newly issued securities have filed an antitrust lawsuit against underwriting firms that market and distribute those issues. The buyers claim that the underwriters unlawfully agreed with one another that they would not sell shares of a popular new issue to a buyer unless that buyer committed (1) to buy additional shares of that security later at escalating prices (a practice called “laddering”), (2) to pay unusually high commissions on subsequent security purchases from the underwriters, or (3) to purchase from the underwriters other less desirable securities (a practice called “tying”). The question before us is whether there is a “‘plain repugnancy’” between these antitrust claims and the federal securities law. See Gordon v. New York Stock Exchange, Inc., 422 U. S. 659, 682 (1975) (quoting United States v. Philadelphia Nat. Bank, 374 U. S. 321, 350-351 (1963)). We conclude that there is. Consequently we must interpret the securities laws as implicitly precluding the application of the antitrust laws to the conduct alleged in this case. See 422 U. S., at 682, 689, 691; see also United States v. National Assn. of Securities Dealers, Inc., 422 U. S. 694 (1975) (NASD); Silver v. New York Stock Exchange, 373 U. S. 341 (1963).
I
A
The underwriting practices at issue take place during the course of an initial public offering (IPO) of shares in a company. An IPO presents an opportunity to raise capital for a new enterprise by selling shares to the investing public. A group of underwriters will typically form a syndicate to help market the shares. The syndicate -will investigate and estimate likely market demand for the shares at various prices. It will then recommend to the firm a price and the number of shares it believes the firm should offer. Ultimately, the syndicate will promise to buy from the firm all the newly issued shares on a specified date at a fixed, agreed-upon price, which price the syndicate will then charge investors when it resells the shares. When the syndicate buys the shares from the issuing firm, however, the firm gives the syndicate a price discount, which amounts to the syndicate’s commission. See generally L. Loss & J. Seligman, Fundamentals of Securities Regulation 66-72 (4th ed. 2001).
At the heart of the syndicate’s IPO marketing activity lie its efforts to determine suitable initial share prices and quantities. At first, the syndicate makes a preliminary estimate that it submits in a registration statement to the Securities and Exchange Commission (SEC). It then conducts a “road show” during which syndicate underwriters and representatives of the offering firm meet potential investors and engage in a process that the industry calls “bookbuilding.” During this time, the underwriters and firm representatives present information to investors about the company and the stock. And they attempt to gauge the strength of the investors’ interest in purchasing the stock. For this purpose, underwriters might well ask the investors how their interest would vary depending upon price and the number of shares that are offered. They will learn, among other things, which investors might buy shares, in what quantities, at what prices, and for how long each is likely to hold purchased shares before selling them to others.
On the basis of this kind of information, the members of the underwriting syndicate work out final arrangements with the issuing firm, fixing the price per share and specifying the number of shares for which the underwriters will be jointly responsible. As we have said, after buying the shares at a discounted price, the syndicate resells the shares to investors at the fixed price, in effect earning its commission in the process.
B
In January 2002, respondents, a group of 60 investors, filed two antitrust class-action lawsuits against petitioners, 10 leading investment banks. They sought relief under § 1 of the Sherman Act, ch. 647, 26 Stat. 209, as amended, 15 U. S. C. § 1; § 2(c) of the Clayton Act, 38 Stat. 730, as amended by the Robinson-Patman Act, 49 Stat. 1527, 15 U. S. C. § 13(c); and state antitrust laws. App. 1,14. The investors stated that between March 1997 and December 2000 the banks had acted as underwriters, forming syndicates that helped execute the IPOs of several hundred technology-related companies. Id., at 22. Respondents’ antitrust complaints allege that the underwriters “abused the... practice of combining into underwriting syndicates” by agreeing among themselves to impose harmful conditions upon potential investors — conditions that the investors apparently were willing to accept in order to obtain an allocation of new shares that were in high demand. Id., at 12.
These conditions, according to respondents, consist of a.requirement that the investors pay “additional anticompetitive charges” over and above the agreed-upon IPO share price plus underwriting commission. In particular, these additional charges took the form of (1) investor promises “to place bids... in the aftermarket at prices above the IPO price” (i e., “laddering” agreements); (2) investor “commitments to purchase other, less attractive securities” (i e., “tying” arrangements); and (3) investor payment of “non-competitively determined” (i. e., excessive) “commissions,” including the “purchas[e] of an issuer’s shares in follow-up or ‘secondary’ public offerings (for which the underwriters would earn underwriting discounts).” Id., at 12-13. The complaint added that the underwriters’ agreement to engage in some or all of these practices artificially inflated the share prices of the securities in question. Id., at 32.
The underwriters moved to dismiss the investors’ complaints on the ground that federal securities law impliedly precludes application of antitrust laws to the conduct in question. (Ihe antitrust laws at issue include the commercial bribery provisions of the Robinson-Patman Act.) The District Court agreed with petitioners and dismissed the complaints against them. See In re Initial Public Offering Antitrust Litigation, 287 F. Supp. 2d 497, 524-525 (SDNY 2003) (IPO Antitrust). The Court of Appeals for the Second Circuit reversed, however, and reinstated the complaints. 426 F. 3d 130, 170, 172 (2005). We granted the underwriters’ petition for certiorari. And we now reverse the judgment of the Court of Appeals.
II
A
Sometimes regulatory statutes explicitly state whether they preclude application of the antitrust laws. Compare, e. g., Webb-Pomerene Act, 15 U. S. C. § 62 (expressly providing antitrust immunity), with § 601(b)(1) of the Telecommunications Act of 1996, 47 U. S. C. § 152 (stating that antitrust laws remain applicable). See also Verizon Communications Inc. v. Law Offices of Curtis V. Trinko, LLP, 540 U. S. 398, 406-407 (2004) (analyzing the antitrust saving clause of the Telecommunications Act). Where regulatory statutes are silent in respect to antitrust, however, courts must determine whether, and in what respects, they implicitly preclude application of the antitrust laws. Those determinations may vary from statute to statute, depending upon the relation between the antitrust laws and the regulatory program set forth in the particular statute, and the relation of the specific conduct at issue to both sets of laws. Compare Gordon, 422 U. S., at 689 (finding implied preclusion of antitrust laws); and NASD, 422 U. S., at 729-730 (same), with Otter Tail Power Co. v. United States, 410 U. S. 366, 374-375 (1973) (finding no implied immunity); Philadelphia Nat. Bank, 374 U. S., at 352 (same); and Silver, 373 U. S., at 360 (same). See also Phonetele, Inc. v. American Tel. & Tel. Co., 664 F. 2d 716, 727 (CA9 1981).
Three decisions from this Court specifically address the relation of securities law to antitrust law. In Silver the Court considered a dealer’s claim that, by expelling him from the New York Stock Exchange, the exchange had violated the antitrust prohibition against group “boyeott[s].” 373 U. S., at 347. The Court wrote that, where possible, courts should “reconcilie] the operation of both [¿ e., antitrust and securities] statutory schemes... rather than holding one completely ousted.” Id., at 357. It also set forth a standard, namely, that “[r]epeal [of the antitrust laws] is to be regarded as implied only if necessary to make the Securities Exchange Act work, and even then only to the minimum extent necessary.” Ibid. And it held that the securities law did not preclude application of the antitrust laws to the claimed boycott insofar as the exchange denied the expelled dealer a right to fair procedures. Id., at 359-360.
In reaching this conclusion, the Court noted that the SEC lacked jurisdiction under the securities law “to review particular instances of enforcement of exchange rules”; that “nothing [was] built into the regulatory scheme which performs the antitrust function of insuring” that rules that injure competition are nonetheless “justified as furthering” legitimate regulatory “ends”; that the expulsion “would clearly” violate “the Sherman Act unless justified by reference to the purposes of the Securities Exchange Act”; and that it could find no such justifying purpose where the exchange took “anticompetitive collective action... without according fair proceduresId., at 357-358, 364 (emphasis added).
In Gordon the Court considered an antitrust complaint that essentially alleged “price fixing” among stockbrokers. It charged that members of the New York Stock Exchange had agreed to fix their commissions on sales under $500,000. And it sought damages and. an injunction forbidding future agreements. 422 U. S., at 661, and n. 3. The lawsuit was filed at a time when regulatory attitudes toward fixed stockbroker commissions were changing. The fixed commissions challenged in the complaint were applied during a period when the SEC approved of the practice of fixing broker-commission rates. But Congress and the SEC had both subsequently disapproved for the future the fixing of some of those rates. See id., at 690-691.
In deciding whether antitrust liability could lie, the Court repeated Silver’s general standard in somewhat different terms: It said that an “implied repeal” of the antitrust laws would be found only “where there is a ‘plain repugnancy between the antitrust and regulatory provisions.’ ” 422 U. S., at 682 (quoting Philadelphia Nat. Bank, supra, at 350-351). It then held that the securities laws impliedly precluded application of the antitrust laws in the case at hand. The Court rested this conclusion on three sets of considerations. For one thing, the securities law “gave the SEC direct regulatory power over exchange rules and practices with respect to the fixing of reasonable rates of commission.” 422 U. S., at 685 (internal quotation marks omitted). For another, the SEC had “taken an active role in review of proposed rate changes during the last 15 years,” and had engaged in “continuing activity” in respect to the regulation of commission rates. Ibid. Finally, without antitrust immunity, “the exchanges and their members” would be subject to “conflicting standards.” Id., at 689.
This last consideration — the conflict — was complicated due to Congress’, and the agency’s, changing views about the validity of fixed commissions. As far as the past fixing of rates was concerned, the conflict was clear: The antitrust law had forbidden the very thing that the securities law had then permitted, namely, an anticompetitive ratesetting process. In respect to the fiiture, however, the conflict was less apparent. That was because the SEC’s new (congressionally authorized) prohibition of (certain) fixed rates would take effect in the near-term future. And after that time the SEC and the antitrust law would both likely prohibit some of the ratefixing to which the plaintiff’s injunction would likely apply. See id., at 690-691.
Despite the likely compatibility of the laws in the future, the Court nonetheless expressly found conflict The conflict arose from the fact that the law permitted the SEC to supervise the competitive setting of rates and to “reintroducfe]... fixed rates,” id., at 691 (emphasis added), under certain conditions. The Court consequently wrote that “failure to imply repeal would render nugatory the legislative provision for regulatory agency supervision of exchange commission rates.” Ibid. The upshot is that, in light of potential future conflict, the Court found that the securities law precluded antitrust liability even in respect to a practice that both antitrust law and securities law might forbid.
In NASD the Court considered a Department of Justice antitrust complaint claiming that mutual fund companies had agreed with. securities broker-dealers (1) to fix “resale” prices, i. e., the prices at which a broker-dealer would sell a mutual fund’s shares to an investor or buy mutual fund shares from a fund investor (who wished to redeem the shares); (2) to fix other terms of sale including those related to when, how, to whom, and from whom the broker-dealers might sell and buy mutual fund shares; and (3) to prohibit broker-dealers from freely selling to, and buying shares from, one another. See 422 U. S., at 700-703.
The Court again found “clear repugnancy,” and it held that the securities law, by implication, precluded all parts of the antitrust claim. Id., at 719. In reaching this conclusion, the Court found that antitrust law (e. g., forbidding resale price maintenance) and securities law (e. g., permitting resale price maintenance) were in conflict. In deciding that the latter trumped the former, the Court relied upon the same kinds of considerations it found determinative in Gordon. In respect to the last set of allegations (restricting a free market in mutual fund shares among brokers), the Court said that (1) the relevant securities law “enables [the SEC] to monitor the activities questioned”; (2) “the history of Commission regulations suggests no laxity in the exercise of this authority”; and hence (3) allowing an antitrust suit to proceed that is “so directly related to the SEC’s responsibilities” would present “a substantial danger that [broker-dealers and other defendants] would be subjected to duplicative and inconsistent standards.” NASD, 422 U. S., at 734-735.
As to the other practices alleged in the complaint (concerning, e.g., resale price maintenance), the Court emphasized that (1) the securities law “vested in the SEC final authority to determine whether and to what extent” the relevant practices “should be tolerated,” id., at 729; (2) although the SEC has not actively supervised the relevant practices, that is only because the statute “reflects a cléar congressional determination that, subject to Commission oversight, mutual funds should be allowed to retain the initiative in dealing with the potentially adverse effects of disruptive trading practices,” id., at 727; and (3) the SEC has supervised the funds insofar as its “acceptance of fund-initiated restrictions for more than three decades... manifests an informed administrative judgment that the contractual restrictions... were appropriate means for combating the problems of the industry,” id., at 728. The Court added that, in these respects, the SEC had engaged in “precisely the kind of administrative oversight of private practices that Congress contemplated.” Ibid.
As an initial matter these eases make clear that Justice Thomas is wrong to regard §§77p(a) and 78bb(a) as saving clauses so broad as to preserve all antitrust actions. See post, p. 287 (dissenting opinion). The United States advanced the same argument in Gordon. See Brief for United States as Amicus Curiae in Gordon v. New York Stock Exchange, Inc., O. T. 1974, No. 74-304, pp. 8, 42. And the Court, in finding immunity, necessarily rejected it. See also NASD, supra, at 694 (same holding); Herman & MacLean v. Huddleston, 459 U. S. 375, 383 (1983) (finding saving clause applicable to overlap between securities laws where that “overlap [was] neither unusual nor unfortunate” (internal quotation marks omitted)). Although one party has made the argument in this Court, it was not presented in the courts below. And we shall not reexamine it.
This Court’s prior decisions also make clear that, when a court decides whether securities law precludes antitrust law, it is deciding whether, given context and likely consequences, there is a “clear repugnancy” between the securities law and the antitrust eomplaint — or as we shall subsequently describe the matter, whether the two are “clearly incompatible.” Moreover, Gordon and NASD, in finding sufficient incompatibility to warrant an implication of preclusion, have treated the following factors as critical: (1) the existence of regulatory authority under the securities law to supervise the activities in question; (2) evidence that the responsible regulatory entities exercise that authority; and (3) a resulting risk that the securities and antitrust laws, if both applicable, would produce conflicting guidance, requirements, duties, privileges, or standards of conduct. We also note (4) that in Gordon and NASD the possible conflict affected practices that lie squarely within an area of financial market activity that the securities law seeks to regulate.
B
These principles, applied to the complaints before us, considerably narrow our legal task. For the parties cannot reasonably dispute the existence here of several of the conditions that this Court previously regarded as crucial to finding that the securities law impliedly precludes the application of the antitrust laws.
First, the activities in question here — the underwriters’ efforts jointly to promote and to sell newly issued securities — is central to the proper functioning of well-regulated capital markets. The IPO process supports new firms that seek to raise capital; it helps to spread ownership of those firms broadly among investors; it directs capital flows in ways that better correspond to the public’s demand for goods and services. Moreover, financial experts, including the securities regulators, consider the general kind of joint underwriting activity at issue in this case, including road shows and bookbuilding efforts essential to the successful marketing of an IPO. See Memorandum Amicus Curiae of SEC in IPO Antitrust, Case No. 01 CIV 2014 (WHP) (SDNY), pp. 15,39-40, App. D to Pet. for Cert. 124a, 138a, 155a-157a (hereinafter Brief for SEC). Thus, the antitrust complaints before us concern practices that lie at the very heart of the securities marketing enterprise.
Second, the law grants the SEC authority to supervise all of the activities here in question. Indeed, the SEC possesses considerable power to forbid, permit, encourage, discourage, tolerate, limit, and otherwise regulate virtually every aspect of the practices in which underwriters engage. See, e. g., 15 U. S. C. §§ 77b(a)(3), 77j, 77z-2 (granting SEC power to regulate the process of bookbuilding, solicitations of “indications of interest,” and communications between underwriting participants and their customers, including those that occur during road shows); § 78o(c)(2)(D) (granting SEC power to define and prevent through rules and regulations acts and practices that are fraudulent, deceptive, or manipulative); §78i(a)(6) (similar); §78j(b) (similar). Private individuals who suffer harm as a result of a violation of pertinent statutes and regulations may also recover damages. See §§ 78bb, 78u-4

Question: What is the issue of the decision?
年. involuntary confession
数. habeas corpus
日. plea bargaining: the constitutionality of and/or the circumstances of its exercise
的. retroactivity (of newly announced or newly enacted constitutional or statutory rights)
月. search and seizure (other than as pertains to vehicles or Crime Control Act)
用. search and seizure, vehicles
成. search and seizure, Crime Control Act
名. contempt of court or congress
时. self-incrimination (other than as pertains to Miranda or immunity from prosecution)
件. Miranda warnings
一. self-incrimination, immunity from prosecution
请. right to counsel (cf. indigents appointment of counsel or inadequate representation)
中. cruel and unusual punishment, death penalty (cf. extra legal jury influence, death penalty)
据. cruel and unusual punishment, non-death penalty (cf. liability, civil rights acts)
码. line-up
不. discovery and inspection (in the context of criminal litigation only, otherwise Freedom of Information Act and related federal or state statutes or regulations)
新. double jeopardy
文. ex post facto (state)
下. extra-legal jury influences: miscellaneous
分. extra-legal jury influences: prejudicial statements or evidence
入. extra-legal jury influences: contact with jurors outside courtroom
人. extra-legal jury influences: jury instructions (not necessarily in criminal cases)
功. extra-legal jury influences: voir dire (not necessarily a criminal case)
上. extra-legal jury influences: prison garb or appearance
户. extra-legal jury influences: jurors and death penalty (cf. cruel and unusual punishment)
为. extra-legal jury influences: pretrial publicity
间. confrontation (right to confront accuser, call and cross-examine witnesses)
号. subconstitutional fair procedure: confession of error
取. subconstitutional fair procedure: conspiracy (cf. Federal Rules of Criminal Procedure: conspiracy)
回. subconstitutional fair procedure: entrapment
在. subconstitutional fair procedure: exhaustion of remedies
页. subconstitutional fair procedure: fugitive from justice
字. subconstitutional fair procedure: presentation, admissibility, or sufficiency of evidence (not necessarily a criminal case)
有. subconstitutional fair procedure: stay of execution
个. subconstitutional fair procedure: timeliness
作. subconstitutional fair procedure: miscellaneous
示. Federal Rules of Criminal Procedure
出. statutory construction of criminal laws: assault
是. statutory construction of criminal laws: bank robbery
失. statutory construction of criminal laws: conspiracy (cf. subconstitutional fair procedure: conspiracy)
表. statutory construction of criminal laws: escape from custody
除. statutory construction of criminal laws: false statements (cf. statutory construction of criminal laws: perjury)
加. statutory construction of criminal laws: financial (other than in fraud or internal revenue)
败. statutory construction of criminal laws: firearms
生. statutory construction of criminal laws: fraud
信. statutory construction of criminal laws: gambling
类. statutory construction of criminal laws: Hobbs Act; i.e., 18 USC 1951
置. statutory construction of criminal laws: immigration (cf. immigration and naturalization)
理. statutory construction of criminal laws: internal revenue (cf. Federal Taxation)
本. statutory construction of criminal laws: Mann Act and related statutes
息. statutory construction of criminal laws: narcotics includes regulation and prohibition of alcohol
行. statutory construction of criminal laws: obstruction of justice
定. statutory construction of criminal laws: perjury (other than as pertains to statutory construction of criminal laws: false statements)
改. statutory construction of criminal laws: Travel Act, 18 USC 1952
市. statutory construction of criminal laws: war crimes
期. statutory construction of criminal laws: sentencing guidelines
以. statutory construction of criminal laws: miscellaneous
修. jury trial (right to, as distinct from extra-legal jury influences)
元. speedy trial
方. miscellaneous criminal procedure (cf. due process, prisoners' rights, comity: criminal procedure)
录. voting
区. Voting Rights Act of 1965, plus amendments
单. ballot access (of candidates and political parties)
位. desegregation (other than as pertains to school desegregation, employment discrimination, and affirmative action)
型. desegregation, schools
法. employment discrimination: on basis of race, age, religion, illegitimacy, national origin, or working conditions.
县. affirmative action
存. slavery or indenture
品. sit-in demonstrations (protests against racial discrimination in places of public accommodation)
前. reapportionment: other than plans governed by the Voting Rights Act
称. debtors' rights
注. deportation (cf. immigration and naturalization)
值. employability of aliens (cf. immigration and naturalization)
输. sex discrimination (excluding sex discrimination in employment)
建. sex discrimination in employment (cf. sex discrimination)
能. Indians (other than pertains to state jurisdiction over)
大. Indians, state jurisdiction over
例. juveniles (cf. rights of illegitimates)
度. poverty law, constitutional
始. poverty law, statutory: welfare benefits, typically under some Social Security Act provision.
到. illegitimates, rights of (cf. juveniles): typically inheritance and survivor's benefits, and paternity suits
面. handicapped, rights of: under Rehabilitation, Americans with Disabilities Act, and related statutes
载. residency requirements: durational, plus discrimination against nonresidents
点. military: draftee, or person subject to induction
密. military: active duty
动. military: veteran
果. immigration and naturalization: permanent residence
图. immigration and naturalization: citizenship
提. immigration and naturalization: loss of citizenship, denaturalization
发. immigration and naturalization: access to public education
式. immigration and naturalization: welfare benefits
国. immigration and naturalization: miscellaneous
登. indigents: appointment of counsel (cf. right to counsel)
错. indigents: inadequate representation by counsel (cf. right to counsel)
者. indigents: payment of fine
认. indigents: costs or filing fees
误. indigents: U.S. Supreme Court docketing fee
接. indigents: transcript
关. indigents: assistance of psychiatrist
重. indigents: miscellaneous
第. liability, civil rights acts (cf. liability, governmental and liability, nongovernmental; cruel and unusual punishment, non-death penalty)
地. miscellaneous civil rights (cf. comity: civil rights)
如. First Amendment, miscellaneous (cf. comity: First Amendment)
设. commercial speech, excluding attorneys
目. libel, defamation: defamation of public officials and public and private persons
开. libel, privacy: true and false light invasions of privacy
事. legislative investigations: concerning internal security only
可. federal or state internal security legislation: Smith, Internal Security, and related federal statutes
要. loyalty oath or non-Communist affidavit (other than bar applicants, government employees, political party, or teacher)
代. loyalty oath: bar applicants (cf. admission to bar, state or federal or U.S. Supreme Court)
小. loyalty oath: government employees
选. loyalty oath: political party
标. loyalty oath: teachers
明. security risks: denial of benefits or dismissal of employees for reasons other than failure to meet loyalty oath requirements
编. conscientious objectors (cf. military draftee or military active duty) to military service
求. campaign spending (cf. governmental corruption):
列. protest demonstrations (other than as pertains to sit-in demonstrations): demonstrations and other forms of protest based on First Amendment guarantees
网. free exercise of religion
万. establishment of religion (other than as pertains to parochiaid:)
最. parochiaid: government aid to religious schools, or religious requirements in public schools
器. obscenity, state (cf. comity: privacy): including the regulation of sexually explicit material under the 21st Amendment
所. obscenity, federal
内. due process: miscellaneous (cf. loyalty oath), the residual code
体. due process: hearing or notice (other than as pertains to government employees or prisoners' rights)
通. due process: hearing, government employees
务. due process: prisoners' rights and defendants' rights
此. due process: impartial decision maker
商. due process: jurisdiction (jurisdiction over non-resident litigants)
序. due process: takings clause, or other non-constitutional governmental taking of property
化. privacy (cf. libel, comity: privacy)
消. abortion: including contraceptives
否. right to die
保. Freedom of Information Act and related federal or state statutes or regulations
使. attorneys' and governmental employees' or officials' fees or compensation or licenses
次. commercial speech, attorneys (cf. commercial speech)
机. admission to a state or federal bar, disbarment, and attorney discipline (cf. loyalty oath: bar applicants)
对. admission to, or disbarment from, Bar of the U.S. Supreme Court
量. arbitration (in the context of labor-management or employer-employee relations) (cf. arbitration)
查. union antitrust: legality of anticompetitive union activity
部. union or closed shop: includes agency shop litigation
性. Fair Labor Standards Act
和. Occupational Safety and Health Act
更. union-union member dispute (except as pertains to union or closed shop)
后. labor-management disputes: bargaining
证. labor-management disputes: employee discharge
题. labor-management disputes: distribution of union literature
确. labor-management disputes: representative election
格. labor-management disputes: antistrike injunction
了. labor-management disputes: jurisdictional dispute
于. labor-management disputes: right to organize
金. labor-management disputes: picketing
公. labor-management disputes: secondary activity
午. labor-management disputes: no-strike clause
円. labor-management disputes: union representatives
片. labor-management disputes: union trust funds (cf. ERISA)
空. labor-management disputes: working conditions
态. labor-management disputes: miscellaneous dispute
管. miscellaneous union
主. antitrust (except in the context of mergers and union antitrust)
天. mergers
自. bankruptcy (except in the context of priority of federal fiscal claims)
我. sufficiency of evidence: typically in the context of a jury's determination of compensation for injury or death
全. election of remedies: legal remedies available to injured persons or things
今. liability, governmental: tort or contract actions by or against government or governmental officials other than defense of criminal actions brought under a civil rights action.
来. liability, other than as in sufficiency of evidence, election of remedies, punitive damages
正. liability, punitive damages
说. Employee Retirement Income Security Act (cf. union trust funds)
意. state or local government tax
送. state and territorial land claims
容. state or local government regulation, especially of business (cf. federal pre-emption of state court jurisdiction, federal pre-emption of state legislation or regulation)
已. federal or state regulation of securities
结. natural resources - environmental protection (cf. national supremacy: natural resources, national supremacy: pollution)
会. corruption, governmental or governmental regulation of other than as in campaign spending
段. zoning: constitutionality of such ordinances, or restrictions on owners' or lessors' use of real property
计. arbitration (other than as pertains to labor-management or employer-employee relations (cf. union arbitration)
源. federal or state consumer protection: typically under the Truth in Lending; Food, Drug and Cosmetic; and Consumer Protection Credit Acts
色. patents and copyrights: patent
時. patents and copyrights: copyright
交. patents and copyrights: trademark
系. patents and copyrights: patentability of computer processes
过. federal or state regulation of transportation regulation: railroad
电. federal and some few state regulations of transportation regulation: boat
询. federal and some few state regulation of transportation regulation:truck, or motor carrier
符. federal and some few state regulation of transportation regulation: pipeline (cf. federal public utilities regulation: gas pipeline)
未. federal and some few state regulation of transportation regulation: airline
程. federal and some few state regulation of public utilities regulation: electric power
常. federal and some few state regulation of public utilities regulation: nuclear power
条. federal and some few state regulation of public utilities regulation: oil producer
当. federal and some few state regulation of public utilities regulation: gas producer
情. federal and some few state regulation of public utilities regulation: gas pipeline (cf. federal transportation regulation: pipeline)
口. federal and some few state regulation of public utilities regulation: radio and television (cf. cable television)
合. federal and some few state regulation of public utilities regulation: cable television (cf. radio and television)
车. federal and some few state regulations of public utilities regulation: telephone or telegraph company
实. miscellaneous economic regulation
组. comity: civil rights
版. comity: criminal procedure
周. comity: First Amendment
址. comity: habeas corpus
记. comity: military
二. comity: obscenity
同. comity: privacy
业. comity: miscellaneous
权. comity primarily removal cases, civil procedure (cf. comity, criminal and First Amendment); deference to foreign judicial tribunals
其. assessment of costs or damages: as part of a court order
进. Federal Rules of Civil Procedure including Supreme Court Rules, application of the Federal Rules of Evidence, Federal Rules of Appellate Procedure in civil litigation, Circuit Court Rules, and state rules and admiralty rules
试. judicial review of administrative agency's or administrative official's actions and procedures
验. mootness (cf. standing to sue: live dispute)
料. venue
传. no merits: writ improvidently granted
述. no merits: dismissed or affirmed for want of a substantial or properly presented federal question, or a nonsuit
集. no merits: dismissed or affirmed for want of jurisdiction (cf. judicial administration: Supreme Court jurisdiction or authority on appeal from federal district courts or courts of appeals)
多. no merits: adequate non-federal grounds for decision
无. no merits: remand to determine basis of state or federal court decision (cf. judicial administration: state law)
员. no merits: miscellaneous
报. standing to sue: adversary parties
他. standing to sue: direct injury
無. standing to sue: legal injury
服. standing to sue: personal injury
线. standing to sue: justiciable question
这. standing to sue: live dispute
制. standing to sue: parens patriae standing
将. standing to sue: statutory standing
处. standing to sue: private or implied cause of action
高. standing to sue: taxpayer's suit
子. standing to sue: miscellaneous
道. judicial administration: jurisdiction or authority of federal district courts or territorial courts
章. judicial administration: jurisdiction or authority of federal courts of appeals
手. judicial administration: Supreme Court jurisdiction or authority on appeal or writ of error, from federal district courts or courts of appeals (cf. 753)
库. judicial administration: Supreme Court jurisdiction or authority on appeal or writ of error, from highest state court
三. judicial administration: jurisdiction or authority of the Court of Claims
从. judicial administration: Supreme Court's original jurisdiction
支. judicial administration: review of non-final order
家. judicial administration: change in state law (cf. no merits: remand to determine basis of state court decision)
长. judicial administration: federal question (cf. no merits: dismissed for want of a substantial or properly presented federal question)
付. judicial administration: ancillary or pendent jurisdiction
秒. judicial administration: extraordinary relief (e.g., mandamus, injunction)
路. judicial administration: certification (cf. objection to reason for denial of certiorari or appeal)
完. judicial administration: resolution of circuit conflict, or conflict between or among other courts
象. judicial administration: objection to reason for denial of certiorari or appeal
则. judicial administration: collateral estoppel or res judicata
现. judicial administration: interpleader
京. judicial administration: untimely filing
转. judicial administration: Act of State doctrine
辑. judicial administration: miscellaneous
限. Supreme Court's certiorari, writ of error, or appeals jurisdiction
力. miscellaneous judicial power, especially diversity jurisdiction
学. federal-state ownership dispute (cf. Submerged Lands Act)
外. federal pre-emption of state court jurisdiction
调. federal pre-emption of state legislation or regulation. cf. state regulation of business. rarely involves union activity. Does not involve constitutional interpretation unless the Court says it does.
项. Submerged Lands Act (cf. federal-state ownership dispute)
北. national supremacy: commodities
工. national supremacy: intergovernmental tax immunity
笑. national supremacy: marital and family relationships and property, including obligation of child support
监. national supremacy: natural resources (cf. natural resources - environmental protection)
任. national supremacy: pollution, air or water (cf. natural resources - environmental protection)
相. national supremacy: public utilities (cf. federal public utilities regulation)
微. national supremacy: state tax (cf. state tax)
册. national supremacy: miscellaneous
联. miscellaneous federalism
平. boundary dispute between states
增. non-real property dispute between states
听. miscellaneous interstate relations conflict
解. incorporation of foreign territories
等. federal taxation, typically under provisions of the Internal Revenue Code
得. federal taxation of gifts, personal, business, or professional expenses
收. priority of federal fiscal claims: over those of the states or private entities
安. miscellaneous federal taxation (cf. national supremacy: state tax)
价. legislative veto
藏. executive authority vis-a-vis congress or the states
命. miscellaneous
应. real property
看. personal property
索. contracts
资. evidence
产. civil procedure
串. torts
布. wills and trusts
原. commercial transactions
Answer:

Answer: 主