Stoneridge's Effects Felt In Securities Action

Law360, New York (January 18, 2008, 12:00 AM EST) -- The judge overseeing a federal securities suit accusing several financial companies of manipulating a Greek telecommunications stock has asked both sides to take account of the U.S. Supreme Court's recent decision striking down “scheme liability” as they brief pending motions to toss the case.

Judge Colleen McMahon of the U.S. District Court for the Southern District of New York sent a letter Wednesday to both sides' counsel asking them to produce a joint submission detailing which defendants are charged under a theory of scheme liability....
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