I don't have much time to write about this cause I have class in a little bit, but I wanted to let you guys know there was a major securities decision handed down by the court today, Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc. In sum, the Court ruled that fraud claims are not allowed against third parties that did not directly mislead investors but were business partners with those who did. This could have major implications for large suits, in cases such as the Enron judgment.
Here are some links that can give you more detail.
SCOTUS Blog
New York Times
Financial Times
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