• Stoneridge

    What Scheme Liability Really Would Have Deterred

    It bothers the legal scholars to see the court make decisions based on policy rather than legal doctrine but we couldn’t help but smile when we read Justice Anthony Kennedy noticing that the “scheme liability” scam urged on the court by trial lawyers would likely deter companies from offering securities on U.S. exchanges. “Overseas firms […]

    / Jan 16, 2008 at 1:44 PM
  • legal, Stoneridge

    Stoneridge: A Victory For Investors

    The Supreme Court’s decision in the case known as Stoneridge is probably one of important securities law rulings in years. The ruling today declared that fraud claims brought under federal securities laws are not allowed against third parties—investment bankers, vendors, accountants, lawyers—that did not mislead investors but did business with companies that did. Already self-styled […]

    / Jan 15, 2008 at 3:17 PM
  • legal, Stoneridge

    Stoneridge: Court Slaps Down Scheme Liability

    Breaking: The Supreme Court ruled against scheme liability in the closely watched Stoneridge case. The result is a blow to self-styled shareholder advocates and their friends in the plaintiff’s bar but ultimately a win for actual shareholders who faced losses from a potential litigations explosion under the scheme liability theory. Here and hear (heh) are […]

    / Jan 15, 2008 at 10:47 AM
  • legal, Stoneridge

    More On Stoneridge, Scheme Liability And Shareholder Suits

    We’ve allowed our concern over the possible fate of shareholder proxy access rules to take a back seat over the last couple of days to our following the Stoneridge case. You know, the one about whether shareholders of one company can bring a securities law fraud case against another company on the theory of”scheme liability.” […]

    / Oct 10, 2007 at 3:54 PM

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