Brokerage firms won a round Thursday in an ongoing battle over what they can and can’t say about departing brokers on their U5 records. In Rosenberg vs. MetLife, the New York Court of Appeals ruled that MetLife had "absolute" privilege over the information it inserted into Rosenberg’s "Form U-5" when he left the firm. Essentially, the decision means that reps cannot sue brokerage firms for allegedly defamatory comments made on U-5 termination forms.

byHalah Touryalai