One of the most important securities litigation disputes in years is now hurtling toward the Supreme Court, which must answer the hypersensitive question of whether outsiders that help a company commit fraud can be sued by scammed investors in the company.
Briefs for the case, Stoneridge Investment v. Scientific-Atlanta, were due June 11. More than a dozen interested parties, from the AARP to shareholder activist groups, filed friend-of-the-court briefs as well. The case itself will not be argued in front of the court until fall, but already legal circles are buzzing about the profound implications Stoneridge might have.
