State Regulators Push Senate To Overturn Stoneridge

Law360, New York (September 17, 2009, 6:07 PM EDT) -- A group of state securities regulators has urged a U.S. Senate panel to push forward with a legislative proposal that aims to overturn the Supreme Court's recent ruling in Stoneridge, allowing those that aid and abet securities fraud, including attorneys, accountants and bankers, to be sued by shareholders.

Speaking on behalf of the North American Securities Administrators Association, Tanya Solov, director of the Illinois Securities Department, said at a hearing held by the Senate Judiciary Committee Thursday that the bill introduced earlier this year by Sen....
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