As our legal system increasingly confronts frauds and bankruptcies, plaintiffs have been seeking out creative means to hold "deep pocket" parties as potential sources of recovery based on their involvement in preparation of offering and financial disclosure documents. Attorneys Robert Schwinger and Eric Twiste examine a recent defendant-friendly 2nd Circuit decision that helps keep the door slammed firmly shut against plaintiffs seeking to bring Rule 10b-5 securities fraud claims against "secondary actors."
2nd Circuit Ruling Keeps 'Stoneridge' Door Shut
Special to Law.com
May 24, 2010