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Should lawyers, accountants, investment bankers and others rest easy after the U.S. Supreme Court's most recent securities decision? Yes and no. Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc. is a definite loss for those pushing a "scheme" theory of liability for "secondary actors" in securities fraud, such as lawyers and bankers in the securites sector. But whether the decision is a total shutout depends on which of three main aspects is viewed as most critical.
January 21, 2008 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
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