The Supreme Court’s 2005-2008 Securities Law Trio: Dura Pharmaceuticals, Tellabs, and Stoneridge

By Allen Ferrell
January 07, 2009
Business law is clearly an area that the Supreme Court has turned its attention to in recent years with important consequences. Nevertheless, it still remains fair to say that Supreme Court securities law opinions are relatively infrequent, especially in light of the profound impact securities law, and securities litigation in particular, have on the U.S. capital markets and publicly-traded fi rms. At the same time, the securities opinions the Court does issue typically have a powerful impact and often set the stage for the next set of issues that will become the focal point of litigation. In the last three years there have been three Supreme Court opinions in the securities law field that stand out: Dura Pharmaceuticals, Inc., v. Broudo, Tellabs, Inc. v. Makor Issues & Rights, Ltd., and Stoneridge Investments Partners, LLC v. Scientific-Atlantic, Inc., from the most recently concluded term of the Court...