Securities Case Before Supreme Court Has Law Firms on Edge

The hundreds of pages of arguments in the more than 30 briefs filed in what many call the most important securities case in a generation boil down to one question: Who, besides the chief actor in a securities fraud, can be sued in private securities litigation? The answer from the U.S. Supreme Court in Stoneridge could have major ramifications, in particular for law firms and accounting firms, but also for bankers and vendors. The Court will hear arguments in the case on Oct. 9.

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