The liability of so-called “secondary actors”—the investment banks, vendors, and others who might help a company commit securities fraud—is taking center stage in the courtroom these days. Though Compliance Week has covered this issue extensively over the past few years (see box below, right), the topic has again risen to the forefront in recent weeks, as several appeals courts have made split rulings on the issue and the U.S. Supreme Court has agreed to weigh in.
