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Stoneridge Investment Partners: The Supreme Court Rejects "Scheme Liability"

By Larry J. Obhof
July 03, 2008
On January 15, 2008, the Supreme Court issued its decision in Stoneridge Investment Partners LLC v. Scientific-Atlanta, Inc., a case heralded by commentators as the “most important securities case in decades.” The Stoneridge decision rejects a theory of scheme liability that would have greatly expanded the universe of potential securities class action defendants....