Posted on 06/06/2007 11:06:42 AM PDT by MrLegalReform
The Supreme Court has accepted what promises to be, in the words of one legal blogger, "the most important securities case in a generation." We hope the Bush administration will file a strong brief in this matter, one that says no to trial lawyers and yes to capital formation and capital markets in the United States.
The case, Stoneridge v. Scientific-Atlanta, is a challenge to the well-established precedent that, when the securities laws are violated, only those who actually broke the law, not outside advisers or others who did business with the company, may be sued. This sharp distinction is known in the law as the line between "primary" and "secondary" liability. The reason for it is easy to see in Stoneridge.
(Excerpt) Read more at washtimes.com ...
Nowhere do I see the mention of the ownership of Scientific-Atlanta. Cisco Systems. Very deep pockets and very powerful. My bet is on Scientific-Atlanta.
Few would be the major corporations, or major stockholders, who would not be rooting for Scientific-Atlanta in this case.
Should they lose, Congress will nullify it.
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