SCOTUScast 1-22-08 featuring Stephen Bainbridge
Stoneridge Investment v. Scientific Atlanta
On January 15, 2008 the Supreme Court decided the Stoneridge Investment v. Scientific Atlanta case. In a securities law case of paramount importance, the Court was asked to consider under what (if any) circumstances private investors can sue actors – whether accountants, lawyers, financial advisors or other businesses – that allegedly participate in a scheme to violate Section 10(b) of the Securities Exchange Act of 1934. The Court ruled that fraud claims are not allowed against third parties that did not directly mislead investors but were business partners with those who did. In this episode of SCOTUScast, UCLA law professor Stephen Bainbridge offers his own analysis of the case. An earlier episode of SCOTUScast by Professor Bainbridge, recorded after oral arguments in Stoneridge Investment v. Scientific Atlanta, can be found HERE.
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